Nice example!
Here is an attempt to adapt John's script into a column formula:
Current Data Table() << New Column( "Color Name2",
formula(
Local(
{colornames = {"Black", "Blue", "LightBlue", "Yellow", "Orange", "DeepPink", "Pink", "Brown"},
rgb = [0 0 0,
0 0 255,
173 216 230,
255 255 0,
255 165 0,
255 20 147,
255 192 203,
165 42 42]},
colornames[Loc Min( V Sum( (rgb - Matrix( Repeat( {{:Red, :Green, :Blue}}, 8 ) ))` ^ 2 ) )]
)));