The only difference between a colored artifact and a colorless artifact is, obviously, its color. Unlike most artifacts, a colored artifact requires colored mana to cast. Also unlike most artifacts, a colored artifact has a color in all zones. It will interact with cards that care about color. Other than that, a colored artifact behaves just like any other artifact. It will interact as normal with any card that cares about artifacts, such as Shatter or Arcbound Ravager.
If an effect says "Search your library . . . then shuffle your library," you shuffle you libraries even though you can't search.
Effects that instruct you to reveal or look at cards from the top of you library will still work. Only effects that use the word "search" are affected.
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If an effect says "You may search your library . . . If you do, shuffle your library" or "You may search your library . . . then shuffle your library," you can't choose to search, so you won't shuffle.
