“I’ve heard that this is being referred to as an Off-Broadway play,” sighs comedian Julio Torres at the outset of Color Theories. Julio, author and leading actor, casts a knowing glance across the audience, pausing for a comically timed beat, and shakes his head laconically: “No … no, no, no, no. … That could not be further from the truth.” As this sly, charming theater piece zips along, however, it becomes clear that Color Theories is indeed an Off-Broadway play, not merely a spiffily staged stand-up routine.