EDIT: Heads up as to the ROM version requirements also:
Game ROM Version: 1.13b
Ok, I have just clarified this with the manufacturer, Randy Perlow.
They ONLY tested the colordmd with rom revision 1.13b and no other, but he sees no reason why it will not work with previous rom revisions (even back to the original production rom 1.0 version).
It will NOT cause any damage by using an older ROM version, but there
MAY be some DMD sequences that are not fully in colour - in which case you will need to upgrade your rom version to 1.13B.
I am still running 1.0, so I will give feedback on any differences found to the AP forum and the ColorDMD staff once the Colordmd arrives and I have tested it out.