Forwarding this bug report along. It looks like the colour coding functionality in Display breaks with non-triangular meshes. Can be fixed trivially before-hand with triangulate_polygons
Steps to reproduce:
Download example.obj.gz (attached):
example.obj.gz
gunzip example.obj.gz
Display example.obj
in 3D view observe:

D # Colour Coding
A # Colour Code Objects
Observe:
