Queen alter The Colour of Money for radio (4)
I believe the answer is:
dido
'queen' is the definition.
(legendary queen of Carthage)
'alter the colour of money for radio' is the wordplay.
I cannot quite understand how this works, but
'of' could be 'o' and 'o' is found in the answer.
The remaining letters 'did' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...
(Other definitions for dido that I've seen before include "---- and Aeneas, opera by Purcell" , "Mythological queen" , "Queen < singer" , "Antic" , "Founding queen of Carthage (did next to nothing!)" .)