I've attached an image with the color picker open directly on top of the sprite in question. For some reason the sprite in scene ends up lighter than the desired color (in this case 255,119,0 instead of 255,47,0). When the sprite is set to be pure white it is pure white in the scene as expected. I've tried with other sprites and the outcome is the same.
The atlas is using Unlit/Transparent Colored and I am running 3.6.0 on Unity 4.5