@CO3 And how do you know that pure, unmixed micronised progesterone isn't white?
I mean, it could be white. I have no idea. If it is white, someone might have thought it wouldn't look nice in a transparent capsule. Remember, women only let nice things into their vaginas 
I agree with @happycat that the titanium seems to be in the capsule only.
From the Seidigestan leaflet:
Lista de excipientes: Aceite de girasol, Lecitina de soja, Gelatina, Glicerol (E 422), DiĆ³xido de titanio (E 171), Agua purificada
https://cima.aemps.es/cima/dochtml/ft/60814/FT_60814.html#6
From the Utrogestan leaflet:
What Utrogestan 100mg Capsules contain
ā¢ The active substance is progesterone. Each capsule contains 100mg progesterone.
ā¢ The other ingredients are sunflower oil and soybean lecithin (E322). The other ingredients in the capsule shell are gelatin (E441), glycerol (E442), titanium dioxide (E171) and purified water.
https://www.medicines.org.uk/emc/product/352/
By the way @happycat, I do exactly the same thing as you. I poke a hole and squeeze out the contents. If there's any residue, I chew the capsule lightly with my teeth and spit the rest of the capsule out. I end up applying it to my gums anyway, after mixing it with Vitamin E powder and coconut oil.