As I understand it the "Color Company" was designated to march at the head of the regiment carrying the colors. The "Color Guard" was 4 or 5 men picked from the bravest and best of the regiment to actually march with and carry the colors in battle. To find out anything about your specific question one would have to look in period correspondence. A Colonel was a high rank and may have been assigned a Sgt. to accompany him home and also to do a little recruting while he was there.