Template Light - with color support

Now that Template Light has recently had color support added I would like to use it.

However, there is something about it that I don’t understand and would appreciate some help.

The example shows scripts being called for On/Off (like the old Template light) but Set Color does not seem to call a script.
Can someone explain how that fits together?

Also - is it possible to configure all of this from within the Lovelace UI without having to edit config files (including creating a new entity to represent the remote light that I want to control)?
The remote light is reachable via http (a ManicalLabs AllPixel with BiblioPixel providing web API that I currently have configured as a simple on/off switch)

Im in the same boat as you. I been chasing down the forum for answers to this but seems like thats a big hole. Dokumentation does not really cover this in a understandable way aswell imo.