install a tri color on the bow of a sailboat it really does seem like a great idea
Not a good idea to effect.
the ColRegs identify a "Tri-Color" light as positioned on the Mast Head. This provides Port, Starboard and Stern lights as required for night time sailing.
You would not have that on the your boat if you put the Tri Color on your bow. You would have a white light shining in your eyes ruining your night vision. That would be a double negative.
What was suggested is to have a dual light on the front of the mast. One light shining forward (steaming light) which you light up as required when you are using auxiliary power. And one light which is directed downward to the deck when you want light on the fore deck...
By design both lights are in front of the mast. The mast shades the Helm from having the lights blinding the Helm's night vision. And light is provided when it is needed on the foredeck and to other vessels telling them you are under auxiliary power.