Currently Initiative (or higher level hierarchy issues) issue color selections don't show up on Kanban boards. The default color is set to Purple for all parent links display on cards. 

It would be great to display the issue color for all issue hierarchies on kanban boards. Issue is described in this community request below:

https://community.atlassian.com/forums/Jira-questions/Colors-can-t-be-changed-for-initiatives-aren-t-represented/qaq-p/2959084#M1112189