this will produce different colors of noise?
Well, yes, sorts of... what helps a lot when using FM(PM) for creating the sounds you want to create is thinking of FM like some sort of additive synthesis. That is you start with silence and add spectral components to it:
The basic thing behind it is: Your output-operator defines the position of the spectral content and your modulating-operator defines the distance, width and spacing of your harmonics.
So, if you want to change the color of your noise, then choose algorithm Nr. 6, choose (just for a start, change this later!) sine-waveforms for OP1/2/3 and choose (just as an example, change this later to your taste...) the frequency-factors 1.0 for OP1, 4.0 for OP2 and 8.0 for OP3. For OP4 choose noise. And for the start turn down ALL modulation-indecees to 0.0. Now turn up the modulation-index for OP3. Do this slowly(!) and notice, that the output of OP3 starting from a pure sine-wave gets more and more noisy but centered around the choosen frequency for OP3. Do the same for OP2 and OP1 until the noise sounds like you want it to.
Now modulate this (OP1-freq, OP2-freq, OP3-freq, MI1, MI2, MI3 ) from within the mod-matrix. You will be getting some really different colors of noise...
Was this of some help, maybe?
best,
Stefan
