Color32 can be implicitly converted to and from Color.

	// Convert a Color to a Color32
	var color : Color32 = Color(0.5,1,0.5,1);

using UnityEngine;
using System.Collections;

public class Example : MonoBehaviour {
    public Color32 color = new Color(0.5F, 1, 0.5F, 1);
}

import UnityEngine
import System.Collections

public class Example(MonoBehaviour):

	public color as Color32 = Color(0.5F, 1, 0.5F, 1)