A tad Magenta.
Also, would you not then be stuck at 215 kts for the climb? - well, at least until > FL100, if in managed then I assume it would default to - -whatever your managed speed for the climb was - say, 270.
Nope, preselected speeds will change the mode into selected upon activation of the relevant flight phase with the preselected speed in the speed window as target. Simply push the button and you are back in the normal managed mode with normal speeds.