As someone who loves color (and color names) I will translate for you:
Beaver - A dusky deep brown with a hint of grey
Bittersweet - A deep, rich, dark brown.
Blizzard Blue - A pale icy blue - think of the blue ice of a glacier
Cerise - A deep, reddish pink (this is an actual color name akin in it's obscurity as Cerulean is to blue)
Cotton Candy - Cotton Candy is pink, you fool.
Inch Worm - I would guess a deep lime green with a hint of yellow
Jazzberry Jam - Even I can't figure out what this is - maybe deep reddish purple?
Outer Space - I would asume it is black with specks of metallic white mixed in
Periwinkle - No, a Periwinkle is an English flower that is a medium hued blue with a hint of purple. This is a pretty common color name.
Razzmatazz - Who knows. The color-namers were on drugs that day.
Timber Wolf - a medium grey-brown
Hope that helped.