Cehck this out:
http://www.linux-hacker.net/cgi-bin/UltraBoard/UltraBoard.pl?
Action=ShowPost&Board=PanasonicCF01&Post=71&Idle=0&Sort=0&Order=Descend&Page=0
Mine is 40MB Cf-01 running Win95, I got 16-bit colors using the stps I described in the linked discussion. If you followed the steps and still can't get 16-bit colors, then I have no idea what you can do.
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