I found this snippet of code to change the color of the material in RBG:
Am I on the right track?
asked Jul 26 '13 at 10:20 PM
If you want to use 0-255 integer values, use Color32.
answered Jul 26 '13 at 10:51 PM
newColor, as far as I know, does not exist. Here's a function to create a color for what you want:
(note: not tested, but should work :))
To use it, simply do:
Red, green, blue and alpha are numbers between 0 and 255.
UPDATE: As for shininess, that is up to your shader. See http://docs.unity3d.com/Documentation/ScriptReference/Material.SetFloat.html
Each color component is a floating point value with a range from 0 to 1.
Shininess would be relative to the Shader.