Dyes were added in 1.2 not 220.127.116.11. Just covering myself in incase comments arise. The Pink Dye is quite easy to get as you only really need the Dye Vat from the Dye Trader for a mere 5 Gold and a Pink Prickly Pear that can grow atop cacti in the deserts.
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Pink Dye is a pink colored dye made from a Pink Prickly Pear at a Dye Vat. It can be placed in...