Imbuing a sword with Flames of Fate

What do you think if you could use the flames of fate on a sword? Some of the effects would be:
White - knockback
Pink - extra damage
Purple - poison
Green - some curse maybe
Blue - speed boost
Red - fire
To make it balanced, you could only use it for a couple seconds, and the pink one could be extra useful against boarders, since you wouldn't keep the pink one on your ship unless you were going to do FoTD, and you would be the only one able to pick it up because you were killed by a boarder.