Lets see, where to start. I have 4x8' insulation foam boards covered with Warm and White. Do use a spray adhesive, a friend didn't and the batting is sagging. Some spray adhesives disolve the foam so check labels.
I think a dark color would be fine, a dark neutral color that wouldn't compete with the fabric auditioning. My favorite color is green-all shades, tints and hues. But all that green around the project pieces would influence my color choices.
So, no, I wouldn't use it.
Before permanent design boards, I used panels of synthetic felt and it works just about as good as far as pieces sticking to it. I just don't like the feel of synthetics, so now I have cotton.