RE:Pantone type standardisation which I don't know too much about..
the trouble with standards is, they change with mediums.. some colors are don't reproduce well on computers (and even diffent browsers present colors differently!) and inks for paper aren't the same as dyes for cloth.

there is a color board, (fashion industry representatives )that meet every year or so and deside on upcoming colors for fashions.. they are experts in color chemisty, and plan that this year, pink will be hot (well really the deside color X will be hot in two years, giving time for manufactures to create cloth, and get it to garment companies and furnature manufactures..

most names are some what arbritary... but mauve is a dusty lavender.. or maybe its sort of a smoky amyathist.. or what ever.

some companies decree that a certain pantone shade is their color... and expect that color in all ads and printed material..

you have to remember, most colors, change depending on how they are illumiated... colors look different in white (sun) light, incandesant, and floresent light... not to mention really off lights like sodium vapor lamps use sometimes as street lights.