[background: meshes in M&B can have a color specified in each vertex, which is typically modulated with the color specified in the texture]
OpenBRF does not have an embedded interactive vertex painter (at least, not yet). It can paint the mesh for you with an uniform color of your choice, and it can also compute "ambient occlusion" on a mesh (i.e. make the parts that are hidden to light progressively darker, and store it as per-vertex color), or tune Hue, Saturation and Brightness, or other things like that.
For any other use of vertex color, as well as to retouch the results, you'll have to paint the mesh in an external application, and then import it on OpenBRF. Doing that, you need use a file format that encompasses color per vertex, like ".ply".
For example,
3D Studio Max can be used as an external vertex painter. You can use
[this] plugin, developed by [Yoshiboy] for this very purpose, to make Blender export ply smoothly. Another vertex painter you can consider to use is the one embedded in
MeshLab.