Color Doesn't Save or Display

I can think of a few possible reasons.
First, perhaps you chose it as the wrong cursor option, for example, the busy cursor rather than the normal pointer?
Second, maybe Windows keeps a cache of cursors so simple using the same file name won't work.
Third, you may need to set it to a different cursor, then back to the one you want.
Forth and most likely, it's possible Windows won't let you make changes to the default cursor file.
In any case, I strongly suggest you make your own folder for your custom cursors, and save the pink one in there using "Save As". Then, load it from there in the control panel 😊.
Hope this helps.

Or, if you are on Win 7 or Win 8, your cursor has 2 images, one for low res (32x32 pixels) and one for high res (48x48 pixels). And you have only changes one of them and the other stayed white and that is what you see.