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Taken on it's own, I like the concept as a game.
My one criticism is that from a Game Jam perspective the use of "Only One" color feels more like a hindrance to the game than an asset. I think the most interesting potential for puzzles would stem from using multiple colors at a time, or even combining two colors to make new colors.  Just my two cents.

If you keep developing this you could end up with something great!

Now that you mention it, that sounds like it would be really awesome! It would definitely make the visuals a little more appeal too, since right now it looks really plain. I'll take this into consideration, thanks for the feedback :D