Yes, at least 16b color works fine for me, though I'm using the updated 2.42 beta version of 11th Hour...
"This new beta player for The 11th Hour improves performance on lower-end
machines. Because it is still beta, it is currently not supported by
Virgin or Trilobyte; however, we have made this beta available because it
does help to eliminate choppy audio on some systems.
This is a groovie(tm) compatible player which has been beta tested by
Trilobyte and fixes a number of issues in the original player for The
11th Hour. This is a beta release and is not officially supported.
This version of the player only supports 16-bit color."
http://dlh.net/cgi-bin/dlp.cgi?lang=eng&sys=p … h242.zip&ref=ps
Just retried the version off the disk, and it works fine for me as well in any of the three available modes (i.e. 8b, 16b, 24b) /w .74.