Previous versions of TOAW counters were re-colorized by graphically editing the counter graphics files themselves. But the TOAW IV counters are derived from graphics files that are, themselves, without color. Colors are now added after the fact via the TOAW software from instructions contained in the new .col file. So, re-colorizing these new counters must involve editing the .col file.
The first step in editing that file is to obtain a copy of the un-edited version of it. This is acquired by using the “X” key within the Editor while the desired scenario is loaded. This invokes the “Dump Unit Colors” dialog:

Just save the .col file indicated.