George, Ron is the authority on the 7th Mississippi Infantry and needless to say knows a great deal more than I ever would.
The soldier who carried the colors was known as different titles depending upon the time period from what I understand. Around the Atlanta Campaign or perhaps a litter earlier the title was changed to the rank of Ensign. An ensign was paid as a 1st lieutenant but had no military authority and was selected by the regimental colonel and signed off by the Confederate Secretary of War.
In Grady Howell's newest research book "Magnolia Brass" he listed the Standard Bearers for Confederate Units of Mississippi. Within the 7th Mississippi Infantry Grady listed Mathew B. Stringer and William J. Nunnery and Elijah (Spelled as) Cothern which I could not find on fold 3.
Not saying who was right or wrong only saying that different authors appear to have different sources.