Line a loaf pan with parchment paper, or set silicon molds out.
Melt the cacao butter in a glass pyrex cup sitting in a pot of boiling hot water. Measure out 1 cup melted. I pour it into metal measuring cups to be sure I have exactly 1 cup, and I pour the extra melted cacao butter in a different container, and allow it to harden and return it to the cabinet to be used another day.Do the same with coconut oil. You can use the same pyrex cup you used to melt the cacao butter.
Make the white chocolate
Add the melted cacao butter and melted coconut oil to 2-cup pyrex cup sitting in a sauce pan of boiling water. Add the sugar and vanilla and stir until all are combined.
Add the coloring agent you choose. Stir until you have a uniform color.
Taste-test for sweetness, and pour mixture into molds or, as I did, into a parchment-lined loaf (8x4-inches) pan.
Freeze for 30 minutes or more until solid. Cut into chunks with a hot knife. Store in refrigerator or freezer because the coconut oil portion of the chocolate will cause it to melt at room temperature.
You can dip chunks or molded forms of this chocolate into dark chocolate so it becomes encased. Then if it melts, it's okay, it's contained in the dark chocolate.