Yeah. It is the only way the plugin can work though. Currently ST2 does not allow you to create a region on the fly with color X. It has to be a scope that exists. This means you either have to add 16,777,215 color scopes to your theme file to account for all possible colors, or generate the scopes on the fly.
The latest version of the plugin tries to cleanup the Colorized versions to make sure there is only one, but it is not perfect yet. Ideally ST2 will one day allow for regions to be set on the fly with a specific color or a specific scope and there by eliminate the need for dynamic themes to get this functionality, but until then, if you want the desired feature the plugin provides, you have to deal with the dynamic themes. That is not to say there can't be room for improvement in the plugin. I would still stay it is in a beta. There are a couple of odd issues that need to be fixed.