Yes you are, I check this out when I had the idea for making a road going pace car.

You are allowed any colour you like except blue as you can be done for impersonating a police officer.

Orange, white, green, yellow, red, whatever all fine but not blue or anything a shade of blue.

And you can have them on the car, but like neons, can't be used when in motion. (This also includes when towing cars!) Flashing lights such as hazzard indicators or light bars and strobes can only be used when the car is stationary or off road.