CA's still show up in the social tab very much the same way bounties show up in the Wanted list. Since we already have the handy dandy lists that already help keep track of them, as well as showing if they're online or not, why have the name colors at all?
To help make it obvious that they're active and online. Which one is more important for you to know when they're active and online really depends on you. If you're a moderate or high level player hunting down bounties, you probably don't care as much about the yellow of the CA's; you generally know who they are and where to find them if you need them. But you do like seeing the red, as it's easy to spot and helps you track down those delicious bounties. On the other hand, newer players might like to see the yellow names; as they might not know where to go to view the CA list (or even know what a CA is until they ask). Players tend to feel more at ease asking questions to CA's than to regular players. It's not uncommon to feel embarrassed about their lack of knowledge, and they understand that our role is to help them out, so they know we won't make them feel bad.
As for the Clan tags being replaced by [Wanted], it could just be a little overkill. Like the CA yellow being overridden, it's really not -that- big of a deal, but more of an annoyance. Having started up a new clan, I'd really like for players to be able to see it (but I also want to try and win the bounty season for once too. xD ).
It'd be nice if the system was changed to not override those things (it'd be more convenient for bounties) but I wouldn't say it's necessary. There's a lot of options available that can still flag someone as a Wanted member without taking away the clan tag.