No, it does not add color.   There is at least one staining method which I approve, as I hate varnished or stained antlers.  I'd suggest you try it on a shed or something not important to you.   Its essentially using a minwax product and then applying mud to the antlers, then steel wool.   The antlers come out looking extremely natural.   Again, I do not like the stained or varnished look.   I need to do a how to one of these days on this method.   Maybe in one of our future huntwa magazines.