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Pretty much, though as far as my research goes in this matter this far: the main point is that the magic glow’s color should be in color harmony with the rest of the colors of the pony (coat, mane, eye and CM), so a good choice is either one of the cutie mark’s colors or the eye color.
So the hypothesis that says it only depends on the eye color is not completely true imho. :)
That been said, I indeed took the lazy approach and used her lighter eye color, as she doesn’t have her CM yet. We’ll get to witness her getting it later on. :)
Presumably going off the common theory that magic color most frequently matches eye color. (Though occasionally it matches cutiemark color instead, mostly with the alicorns)
Agreed