Yes! It's this AMAZING thing! Armors come in different COLORS! It's amazing!
Shush you. That's not what he meant and you know it.
As far as I know Mando armor tradition isn't mentioned, but the farthest I've gotten into the the Bounty Hunter storyline is Nar Shadaa, so... maybe?
The only Mando's I've met in other classes where the ones on Dromund Kaas (in the Revanite Chain) and they all wore blue armor.
The Neo-Crusaders of Kotor all wore the same armor, with different colors denoting rank. Blue for grunts, yellow and red for higher ranks. Since its only been 300 years, I doubt the colors with meaning personalization tradition has developed yet. I could be wrong though, where's our local historian?