I have to play Devil's advocate here....can't resist....
Okay, it's a 1st level illusionist spell. Meaning,
everything is getting a saving throw (or almost everything). And it affects 2-5 creatures. At early levels, it's a life saver, an "Oh Sh!t" button that could save the parties bacon if things go real bad. So, for the first level or two, it's a good spell but not overpowered, at least in my opinion, since it has a cap on how many creatures it can affect and their HD (1 or 2 HD max for a 1st or 2nd level illusionist and a d4 + 1 or 2).
By 3rd or 4th level, it's respectable but so are spells like
Hypnotic Pattern, which will be able to entrance upwards of 9 HD worth of creatures at this level. Also at this point, the bigger monsters the PCs fight are going to be 5 HD, or slightly more, meaning some still won't be affected - and the foes that can be (the 3 or 4 HD variety will be getting a saving throw a lot of the time. And even if the bigguns' fail their save, they're only going to be incapacitated for one round. The 3-4 HD ones slightly more than that. Going back to
Hypnotic Pattern, the creatures can be "heedless of all else" for as long as the illusionist concentrates.
Then, there's 5th level. This is the height of the spell. Level-based save restrictions are lifted since the illusionst is 5th level. The spell becomes (and probably has since maybe 3rd level) the "minion stopper" as all lower levels are now succumbing to the illusionist's power. Well, maybe. If he get's his spell off before the Wizard
fireballs the place. Or the Druid
calls lightning. Beyond 5th, it's still useful, though most everything will be rolling a save against the effects, will probably save a decent portion of the time, and the effect is very short.
Most importantly, this is an illusionist-only spell in C&C. This is one of their true offensive spells and weakening it weakens the illusionist a little (in my opinion). The "no save" clause is only viable in a very small window, after which its no longer an advantage. By mid-levels it'll be nearly gone, unless the CK throws up some minion-level creatures as fodder (goblins, orcs, etc) at which point the illusionist will once again be able to shine with this spell, especially if he's competing against another spellcaster. Illusionists can be powerhouses but often the adjudication of illusions can be a little on the "tame" side by a CK, leading a lesser powered illusionist. Color Spray is one of those illusionist spells that are hard mechanics, so it's power isn't derived from the CK's adjudication.
This is my take on the spell. I don't think it's a typo, since both the 1st and 2nd Edition AD&D versions are worded the same (though they go up to the level of the caster or 6 HD). I think the spell is written as intended - it gives lower level illusionists a chance for a heroic moment, if necessary and it keeps the spell somewhat viable at higher levels. It's just not one of those "all or nothing" spells and that seems to be causing some issues.
Before changing anything, I'll suggest what used to be suggested a lot back when I came to these boards and threw up suggestions for change - play it as-is, first. See how it works. If it needs to be changed, then by all means, change it. But I would suggest trying is as-written first. It may not be that much of a problem as you think it might. That is if you haven't used it in game already, then please disregard the above statement!
