First, any reason you are using a DataSubscriber instead of the PLCAddressSelectColor2 and PLCAddressSelectColor3 of the BasicIndicator?
If you need to use the DataSubscriber, a better way to do this is to set Color1 to Yellow and Color2 to Blue. Then in the DataSubscriber set SelectColor2 and SelectColor3 to switch between the colors.
But overall, it looks like your code should work. I would try a break point in the routine to see if the event is firing. If so, then step through the code.