A South Carolina pest exterminator named Harold Collins thought he could keep minnows alive longer by immersing them in a homemade potion of chemicals. Instead, he turned the baitfish blue and stumbled upon the latest revolution in baitfishing-colored minnows. It took eight months of trial and error and the collaboration of friend and chemist Kim Senn, but today, their product, the Minnow Magic Coloring System, colors minnows Fluorescent Pink, 14 Karat Gold, or Outrageous Orange in 5 minutes, easily and safely. About $30 for a 2.4-pound package, including all three colors (enough to color over 700 baitfish). Magnet Inc., Dept. F.S., P.O. Box 4747, Spartanburg, SC 29305-4747; 888-733-5866.