In heavy saucepan combine sugar, cream and remaining butter. Cook and stir on low until sugar dissolves. Bring to boil and cook, stirring constantly, for four minutes. Remove from heat and add chips and fluff. Set one cup of mixture aside.
To remaining mixture add orange extract and colorings. Stir until blended. Pour into prepared pan. Drop remaining mix by tablespoons over top. Cut through with a knife. Cover and refrigerate until firm.