I travel on track, displaying many colours (10)

I believe the answer is:

iridescent

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'displaying many colours' is the definition.
I can't tell whether this definition defines the answer.

'i travel on track' is the wordplay.
'travel on' becomes 'ride' (I've seen this in another clue).
'track' becomes 'scent' (both can mean a trace left by someone).
'i'+'ride'+'scent'='IRIDESCENT'

Can you help me to learn more?

(Other definitions for iridescent that I've seen before include "with a glittering display" , "shot" , "Shimmering with rainbow colours (anag of 1 across, 9 and 23)" , "Sparkling" , "Glittering with changing colours" .)

I've seen this clue in The Independent.

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