Let me stick my nose in here. The combustion process produces by products and that is what you are looking for on the plug. The portion of the plug that obtains the highest temp will give you a good idea of how hot the combustion process is. So the electrode, insulator and the ground electrode are all hanging out in the middle of the combustion flame and getting hotter than any other portion of the plug. They are also exposed to the dynamics of the combustion process, which is pretty nasty. The body is transfering heat to the head so it will always be cooler.
If the flame is lean, it produces little to no carbon. There is also much less fuel to help cool the parts when it first rushes in. I also believe, but am not sure about this, that the radiant heat is higher in a lean flame because there is less "stuff" for the heat to radiate thru. By stuff I mean products of combustion. So those bits of a plug that are out in the chamber, with very little to transfer heat to, get hotter. That's why a very lean mixture will start to cook the plug tip. The metal is approaching its melting point because it cannot get rid of the heat fast enough.
A rich mixture produces carbon because of incomplete combustion. The carbon deposits itself on the plug out at the tip, and pretty much everywhere else. But because the tip is hanging out there in what you might call extremely violent conditions, the carbon will not build up equally. Down around the inside of the base, there is much less turbulence and probably no flame front since there is little to no flow in that area, so the carbon builds up and never really gets blown off. But out at the tip, the carbon builds up and is blown off by the violent combustion process. If the engine is rich at idle, which they usually are, it will deposit carbon on the tip and then at speed when the mixture leans out, the carbon will be blown off. This is why the chop throttle method is key to properly reading plugs. If you go for a WFO ride and then idle as you putt down the driveway, your plug is going to read the idle mixture coming down the driveway. Getting back to rich mixtures, only in extremely rich conditions is so much carbon produced that it builds up to the point of bridging the electrodes and shorting out the plug. Of course I'm not talking about bikes that burn oil. That's an entirely different issue.
This brings up heat range of a plug. A hotter plug is designed to run at a higher temp than a cold plug The range is selected both to prevent pre-ignition (too hot) and deposits) too cold). Two stroke engines tend to run hotter plugs because of the oil in the fuel. The plug range is determined by the depth and thickness of the porcelain insulator for the center electrode. . The heat range property of a plug makes me want to think that carbon can be burned off, but I doubt that. I think the heat range is more focused on burning off deposits made when the fuel mixture first enters the chamber and cooks onto the surface of the plug. It is that, which the heat range feature burns off... I think.
So, to eSteve's point, reading the base color is of little value because it is not out in the storm, like the tip of the plug is. It probably starts to get black with the first few firings and reaches a point where it just stays that way, regardless of the mixture. But the tip of the plug is constantly changing with the mixture. Probably the only thing that would not change is damage caused by overheating the plug with a severly lean mixture.
So why does a perfect mixture produce a tan plug tip. I really don't know for sure. I suspect it is a combination of some products of combustion, but more just the color the plug tip becomes when exposed to the combustion process at the correct temperature. I've been told by mechanics that work on cars today that reading plugs is not very useful because the mixtures are much leaner with FI engines and the additives in todays fuels make different deposits than they did back in the day of carbs. I have no empirical proof of that. I suspect there are probably articles on the web about it, if you look.
Want to get to the bottom of the mystery. Take your bike to a shop with a dyno and exhaust gas analyzer. Run throttle chop tests across the different fuel circuit ranges of your carbs and compare the plug readings with the exhaust gas analyzer readings. That will tell you what a plug should look like if the mixture is correct. I saw an exhaust gas analyzer that is small and could be strapped to a bike for road testing. I thought about buying it just to satisfy my curiosity on jetting carbs. With dual exhausts you could do each carb separately. Everyone says the left cylinder on old Triumphs always runs leaner than the right. I could finally put that legend to bed. But, alas, I never did buy the thing. Don't even remember where I saw it anymore.
New Info : After initially posting this, I did a quick search and found this NGK site. It's a great tutorial on spark plugs. So I've edited the post to include the link. This should clear up any questions.
http://www.ngksparkplugs.com/tech_suppo ... p?mode=nml
regards,
Rob