I think any color sequence in "Saved From the Titanic" was probably more of a tint, as Jim has suggested, than full-fledge color. The one known surviving film of Dorothy Gibson's —— "The Lucky Hold Up" (released 11 April 1912) —— has scenes tinted in rose and blue, so that's an indication of what "Saved" may have looked like.
Other books with good sections on "Saved From the Titanic" are Frank Thompson's "Lost Films" and Stephen Bottomore's "Titanic and Silent Cinema." Both books were a lot of help when I was researching, and Frank loaned some of his great photos.
As to "kinemacolour, " it was something of an approximation of modern color, and used often in the Pathe and Gaumont fashion newsreels that started up about 1910. Color fashion photography was also in its infancy around the same time. It looks artificial to us today but this so-called "polychromide" process was actually touted as "real" color. Some of Lucile's dresses, by the way, were photographed in the polychromide method in 1913 (for the Illustrated London News) and in 1915-16 (Harper's Bazaar).
Inger, I'd like to see "Toll of the Sea." All I have seen are clips used in documentaries, but they look very good. The color must be early Technicolor?