The color concept is interesting precisely because it isn't just "arguments to functions". The difference I describe is a real one that has real effects at scale. Trying to collapse it down to "it's just function arguments" doesn't make it go away, it just makes it so anyone who refuses to draw the distinction loses the ability to see it. It's not a good idea and it's not a good argument. You're just smearing vaseline on your eyes.
With stackful coroutines, the custom validator can transport the error to the original call site, handle it and resume back into the validation library if the error was recovered, or abandon the validation (as with exceptions) if unrecoverable.
With HKTs, the validation library can be agnostic on the specific return type of the custom validator.