That's strange, usually the colors of a eatable/drinkable are produced by a tasteless colourant chemical.
Recently I saw a chemical experiment that consist in putting a little of milk in a colored soda (like fanta or coca cola) and letting it rest for few hours, after that, the soda will be totally colorless because the milk attracts the colourant chemical to the bottom of the bottle, if you drink that soda you will perceive the taste remains the same.

I don't know about the m&m as I never ate them.

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