We do not have a way to group orders through your Shopify admin, but I took a look into our app store and found a few apps that can help with the management of orders. I recommend:
Order Merger is an app that allows you to have automated order merging, reduce shipping costs, and help provide your customers with a better shopping experience.
Auto Tags - Customer & Order is an app that would allow you to auto-tag your orders, and this way, you would be able to have them organized into groups.
These apps will help with managing and organizing your orders. I could not find an app that specifically groups by location by color, but these apps will help you manage your orders and help with the efficiency of fulfilling them. If you want to provide a bit more context on why you need your orders organized, this way, I can try to come up with a better solution for you!
Please let me know if you have any further questions! I would love to learn more about your business. What type of products do you sell?
Emily | Social Care @ Shopify - Was my reply helpful? Click Like to let me know! - Was your question answered? Mark it as an Accepted Solution - To learn more visit the Shopify Help Center or the Shopify Blog