The current encoding is complete, so no future extensions are possible.
A fix would be to change:
110rrrrr ggggbbbb - copy the last pixel and adjust RGB by (r-15, g-7, b-7)
to: 1100rrrr ggggbbbb - copy the last pixel and adjust RGB by (r-7, g-7, b-7)
This leaves: 1101???? ...
available for future extensions.