Well, that's the thing I love about Xenos: there is no prescribed heraldy as with the marine chapters. Pretty much everything you come up with is DIY by lack of something official aside from maybe the kabals described in the painting section of the codex.
With covens you can do whatever you like, come up with a fancy sounding name for it and call it a day. You could even have your coven in the same colours as your other troops and say it is because your archon sponsors the coven, so their wear his colours.