The colours just look to iterate through Red, Yellow, Green, Blue for each search term per box.
If this is the same thing I remember, then yes, it's just cycling through the colors.
I think it's iterating through queries as well. I can't imagine Hebrew is such a "hot" language and that is used so heavily, so that I see the same query repeated over and over (population of Israel has about 7 million people, where only 5-6 would probably use Hebrew as their main language...).
I don't know, but can't help thinking this site would suit Microsoft/Bing really well.