In the top-right corner of any Super Text Mesh inspector window, click the [T] icon to open the Text Data Inspector, and in there you can see all of the included animations, and make new ones! I'm guessing you already know about this since you made your own color data, but it's worth mentioning, anyway.
As for why it's not animating, there's a chance that you may have encountered an import error, make sure to import all the default assets, and then in that Text Data Inspector window, click the "Refresh Database" button at the bottom.
In this window, also ensure that under the "master" foldout, that "disable animated text" is false. There's a variable for this on every Super Text Mesh object, too, under the "Timing" foldout.
Additionally, make sure your text has "ignore time scale" set to true, your game's timeScale value can effect animated text, too.
I find that some versions of Unity will show the mesh animating in edit mode, but does it work in play mode for you?