Just keep in mind that disabling it for townies also disables it to be inherited.
If you are using custom hairs, it's pretty easy to edit what you want for your private use. But that's an unrelated issue to your question, so I won't ramble on about it. However, most custom hairs I've used have all the colors enabled for townies and for genetics, though these hairs also aren't using the proper hair color flags. Thus why children won't grow into the same hair color as their parents (if said parents have unnatural hair colors) not only are the colors simply unavailable for child Sims, but you'd have to change the CASP files for the unnatural colors so they can be inherited. Are you using custom hairs? I've been looking through the CASP files for hair while I've been defaulting their colors (I don't like banana yellow for blonde, I'll admit it), and so far, most of the default EAxis hairs are disabled for random-meaning townies won't spawn with them and they can't be inherited.