As someone who's worked for an operator with a large route, I've seen all manner of pool cloth colors on pool tables on location. I saw one location that owned their own pool tables and had their tables done in orange cloth. Looks great when the cloth is brand new, but after 6 months it faded badly and looked like crap. So they simply replaced their orange cloth every three months. Their tables made real good money from what I saw so it was probably worth replacing the cloth so frequently.
I've seen blue, red, orange, purple (another color that fades quickly), and yellow in addition to the traditional green color. Roughly 99% of the tables out there use standard green felt cloth.
Nowadays, there are two types of pool table cloth available: traditional felt and synthetic cloth. For durability, the modern synthetic cloth seems to last considerably longer and holds it's colors longer. However, synthetic cloth costs considerably more that traditional felt cloth.
Traditional felt in the standard green color is the most cheapest and also the most stocked pool cloth out there. It is also the easiest to work with when you are re-felting a pool table. Other colors may cost more or may not always be in stock.
When we needed our tables re-felted, we hired professionals to do our tables. In general, on our route, this was around once a year. We would have the professionals do 20 tables at a time and thus we got a discount. All of them used exclusively 3M #77 Contact Cement in both brush-on (for the bed cloth) and spray-on (for the rails) because it was the strongest glue.