The mod currently doesn't provide a colored light render. All that it does is provide two blocks that emit redstone signal when activated and give torch light level 15.

One block is a lever model and the other is a full block model.

There has been some advances actual colored light in the Forge modding sphere. Forge intends to if not already add at least one of them into its offering.

In 1.7.10 you had this mod https://minecraft.curseforge.com/projects/colored-light-core which provided for that. I had petitioned the author on his MinecraftForum.net page to update it. See comment #2014 http://www.minecraftforum.net/forums/mapping-and-modding-java-edition/minecraft-mods/wip-mods/1445251-1-7-10-beta-wip-colored-light-progress-and?comment=2014

As I didn't properly keep all the information on actual colored light in a bookmark folder, I just found this, I think it might be the same game but shows some amazing effects one can expect with colored lighting. http://www.minecraftforge.net/forum/topic/12980-resizing-the-lightmap/

Seems the colored light mod, or one of them is now called Albedo and is available for 1.12.2 as a Proof of Concept mod. https://minecraft.curseforge.com/projects/albedo

I believe Albedo is the one that will be entering into Forge proper eventually.

There is already a mod built against it. https://minecraft.curseforge.com/projects/weissalbedo

Which means I'll be updating this mod shortly to provide different types of true rendered actual light that changes the render hues of the environment.