Cutting bit questions

Just got the X carve put together and mounted on a dedicated table I can move about the shop. Getting ready to learn how to use the machine. Got a lot of bits when I ordered the unit but there is no description as to what each is or how to recognize them. They all have a colored collar on them is this the identifier? If so need the key to know what each color is. Any help out there?


Each bit should have super small font on the plastic ring telling you the size, type, and cut (e.g. 1/16 DC (down cut) Fishtail)