Thanks for looking at this!
I'm not sure that removing that finalization code is correct - in the video below, you can see that if the text isn't finalized when you start drawing with the brush tool, then the text is overlaid on top of the brush stroke as if it were another layer

It seems I misunderstood. I have since then been looking into the text tool behaving strangely on startup but I did not find what was causing the inconsistent behaviour. I reverted the change to not finalize text when using another tool, so currently this pull request only fixes the problem of the text suddenly switching colors when switching to another tool and changing color before using that tool.

Actually I think that code block you were removing might hint at the startup issue - that LayerCloned event handler is only added if there is an open document when the text tool is activated, but on startup perhaps the text tool is activated before the default empty document?
That event handler might need to be shifted somewhere else so that it's added more reliably, e.g. whenever the text tool has created some unfinalized text?

I've committed a fix for the finalization issue in 8deeaf9, so I'll merge these changes for the colours now. Thanks for working on this!!