help with bits please

[db12345]

hello i recently receved a metal lathe / mill combo and have done a bit of machineing previously in scholl and was wondering , if their is a reason these bits are color coeded i have sets of each of the colors the black , red , bronze and grey bits any ideas ?http://i47.tinypic.com/2ewpszt.jpg

also could you please guid me to some pages with tips and different toolings i got alot of bits and was wondering what i can do with them

[aametalmaster]

I have some in different colors too. The first bit from the left is an indexable carbide. You can turn it for a fresh corner. The other 3 are braised carbide. I don't know the grade they should be marked C2, C5 or C6. Here is a chart on how they cut and from which way...Bob
http://www.mcmaster.com/#catalog/116/2501/=7e4vph