thanks so much to the both of you on the quick response! The answer to the question worked like a charm, but at the end of the day didn't give me a great solution to my overall problem (I was actually hoping you could leave the color set to default back and the rating would stay) and here is why ...
Basically, I am trying to figure out a way (in my own workflow or sorts) to combine 2 cameras worth of images in one folder and know which images, after the edit, came from the respective cameras. I guess I should of asked this question first, Is there a way to maintain the serial # information after the edit (like describe above)? As of right now, with my preferences the way they are set, every time I bring the photo in for editing the serial # information disappears after I save in PS and return to look in PM. The solution to the question above would be that I, after the edit, could do a "sort by {type}" ... select the photos from the respective cameras and move/copy them into separate folders (basically, I am having one editor working on 2 photographers from the same shoot and want to select only the good ones from both cameras combined, edit those, but return the good edits back to the respective photographers "good images" folder for possible samples later).
My other thought was to have one camera 1 stared and the other camera 5 stared, for example. The only problem with the answer I got earlier is that my original setting that allowed PM to reset the IPTC/XMP data back to default allowed myself and others which photos have been edited (color: none, rating:none) and which have not been touched (color/rating: something, pink or whatever).
Any thoughts?
Thanks in advance!