Hi Monisha,
thank you, just found the issue when trying to replicate it.
The issue is that I am using queryTaskbarInfo for the color (exactly as in the sample), but I'm also using parentTaskbarTemplate and taskbarTemplate to show the labels. I didn't know about the labelSettings property until I saw it in your sample.
I solved by using the labelSettings and removing the taskbarTemplate.
On a side note, I am not sure if setting the color with queryTaskbarInfo and the labels with tasbarTemplate is supposed to work, but in my case it did.
Best regards,
Matteo