It does work when you have a colored name, although you can only put two items in your clan tag.

To do this, do as you did before with the color. Where the other two dots are in your clan tag, click on one. Look to the left of your hex editor and you should see two characters boxed/highlighted. Enter in your button code there. Once you do that, click on the next period. Repeat. And there is your colored name plus two buttons in your tag.