Hi @mgray 
I know setting up the data structure can be super overwhelming at first! I am hesitant to say what the ‘right’ way would be (since there can always be more than one way to set things up in Bubble), and also because I am not familiar with the specifics of your app. With the post you linked below, that was more so to illustrate the overall concept of how to create a custom data type, and then link that data type to another custom data type. It wasn’t necessarily to say the ‘right’ way of setting anything up.
My recommendation would be to read through and re-create existing Bubble app data structures, including creating data types and fields, custom data types, and link data types, and practice setting those up - that will definitely lead you in the right direction to build out your data structure. I highly recommend reading through Nigel’s awesome posts here about one-to-many and many-to-many relationships (ignore my posts in that thread, as they are incorrect!):
When I was first getting the hang of everything (and I’m still getting the hang of it!), I would start by practicing data structures with blank Bubble apps. For example, you can recreate the Color example that you linked to, look to this Twitter example, as well as the public Bubble editor’s data structure to see how they create custom data types and link them within each other. In my experience, new Bubble concepts always made more sense the more I practiced, and not necessarily the more I read about it. Once it starts to ‘click’ more you’ll see how you can structure the data relationships in your app much more quickly and with much less frustration! It definitely looks like you’re on the right track, but I would recommend really understanding how to create and link custom data types to each other before moving too far forward with the app’s workflows and design.