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An e-ink screen which had the capacity to refresh faster wouldn't use more energy unless it actually was refreshing faster. With reading, you only need to refresh when you turn a page. LCD has to refresh everything constantly. A faster e-ink would only have to refresh what actually changed. Imagine you're watching where the background is static. The background wouldn't need to be refreshed. Or you're playing a game where most of the screen remains the same for long periods of time.
The color in color e-ink isn't currently as good as the color in LCD, and it isn't currently able to refresh as quickly, but the demise of e-ink is rather exaggerated. E-ink is a new technology, and just a few years ago was the stuff of science fiction.
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