An emulsion is a mixture of two immiscible (unblendable) substances.
colour is entirely dependant on the liquids used.
Benzene265 said not to think colorless. He also said cloudy, not has color.
so, homogenous is like water and salt (can mix)
heterogenous is like charcoal and water (cannot mix, charcoal particles float around giving a "cloudy" look)
For the order/sequence of putting liquids, there's no chemical name. we just state it in basic english. its not required for u to apply this, because u're dealing with physical reactions, not chemical reactions.
if u switch the order/sequence, the result MAY be different because of chemical reactions, but it may also be due to the "process" of how the mixture changes.
still, in the end regardless of the order/sequence, as long there are no chemical reactions, the product or result is the same.