(1) I think that most teachers would prefer
a five-colored pond.
Why? Well, we are saying: The pond is five colored.
(-ed changes the word "color" to an adjective)
We then say: It is a five-colored pond.
BUT some native speakers do write "five color" because
maybe they say "five color." It takes more strength to say
If it is possible, try to follow the rule. For example:
You have a curious mind.
You are curious-minded.
You are a curious-minded person.
Sometimes you will read: X is a medium-size country.
The rules say: medium-sized. But, as I said, many people
speak fast and do not want to pronounce "sized" because
it is easier to say "size." That may be why many people
nowadays write "medium-size." It is probably better if
you follow the rule and say/write "sized."
Usually the word "born" in a compound is not capitalized:
The newly born baby was very hungry.
Foreign-born students do very well in American schools.
BUT since Padmasambha is a person (am I correct? I am
just guessing), maybe you would capitalize "Lotus-Born"
Since it is his name, it would look "funny" with a lower-case
(small letter) "b." (Only my opinion)
Student or Learner