I do not think that the word (; cyan) is associated with youth, adolescence or puberty in Japanese. As YOU wrote, (; usually blue in the modern Japanese, sometimes refers to green) is associated with immaturity and youth. But does not have this connotation.
I had never heard of the phrase . Unless I am much mistaken, it is only used as the title of manga by Yuu Yabuuchi and not a common phrase in Japanese.