How so? in regards to keeping track of it.
you would effectively have all sades if you were good and bad, seeing as you would fit right in with the neutrals even past your first death, if it gave you two lives.
really the only problem would be of the narrator's thought, if you had more then one life in the game, and that of the others on what one of those lives to end.

Though, you would have to have different mannerisms to reflect any conflicting views. maybe start out with a change of color and go from there

But then you have the problem of what view should have what color, as one might be able to see in our writing as of the past posts in meta and the spill that may have been seen in other posts. sometimes a color is over looked and under used, poor gray.