Fyi I couldn't get ng-model-options to work on 1.3.
I tracked the issue to line:
https://github.com/ruhley/angular-color-picker/blob/master/src/scripts/controller.js#L34
this.$scope.control[0].$options is the correct path, while this.$scope.control[0].$options.$$options doesn't exist on angular 1.3 at least.