It should remove the scent. And it should remove most if not all of the color too, although JayJay is right that it might take more than one salting-out to remove some colorants.
Just for general info --
Salting-out does not remove superfat. That said, there is another step you can do
before salting-out to remove some or all of the superfat. This is "boiling" the soap (gentle, careful simmering, actually) with a bit of excess lye. Don't try to combine this boiling with salting-out -- that will be nothing but trouble. If you do "boil" the soap with additional lye, you can then add fresh superfat later.
Salting-out will not make a badly formulated recipe become magically better. If you didn't like how the soap cleans, lathers, lasts, or feels on the skin, then you probably won't like it any better after salting out.
Salting-out will it not change the basic nature of the soap. A soap that is too cleansing before salting out will be too cleansing afterward afterward. A bath soap will not become a laundry soap.
Salting-out is a pain in the b*tt -- more so than rebatching. You have to pay strict attention to the process, and it takes a fair bit of time to do. It's not something to leap into, unless you have a big pile of scrap to deal with or you just want to experience the experience.
