The rationale for this is that if you need to post a long text post, it should be in the form of a blog post instead. I agree with you that it's not really adapted for a meta post.
Maybe post color is based on some get_text_post_color method that applies to self posts and comments, where the color depends on comment karma. Given that self posts like the OP are votable as if they were a normal link post, their comment karma value is probably 0.