Spirit of the vulture changes colour depending on the most recent engram decoded by the cryptarch by the most recently played character.
English
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Not sure about exotic engrams though
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This is true however it goes of engrams that you pick up off the ground or get in strikes/raids. I tested it and it is ture !!!!!!!!1
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I have one that switches from white to green, IM REALLY sure it's just random, especially since I had it since week 1 of the game.