Purple - A system with high performance graphics, low-latency input, and a beautiful UI.
Pink - An incredibly modular system for developers and users.
If you hang out on #fuchsia long enough you will realize that we are all a bunch of OS nerds that have worked on many, many systems in the past (BeOS, ChromeOS, Android, webOS, QNX, DangerOS, iOS, MacOS, ...).
That explains it. Thanks, congratulations on the release, and welcome to HN! :)
Pink [1] and Purple [2] were both Apple codenames for operating systems. Probably not a coincidence, but I don't see an obvious connection...
[1] https://en.wikipedia.org/wiki/Taligent#Pink_and_Blue
[2] http://www.phonearena.com/news/Did-you-know-that-the-codenam...