Bubba, Meerschaums get hot when smoked. They are a special type of Clay and by getting hot, they act as a radiator to dissipate the heat, so you get a cooler smoke.
Juni, really I'm with you on this issue. I smoke them, wax them mainly to protect the surface of the Block and avoid touching them when hot, so that the coloration will progress. The reason estate Meerschaums are often slow to color is that the previous owner likely handled them like a Briar, which is OK if you aren't concerned about the Pipe coloring well. In reality, the byproducts of smoking that color the Pipe, in concert with the heat and the wax, eventually weakens the morphology of the Sepiolite's structure. The oils from your skin also do this. Personally, I'd rather have the Pipe color properly, without having the added risk of the grime from the environment speed up the loss of structural integrity of the Block.
These Pipes evolve with time and use. Like us, they change and in many ways reflect what we enjoy and how we go about it. Philosophical, yes I've been known to enjoy these Pipes more by learning more about them. I cannot tell you the names of the people who smoked the estate Meerschaums in my collection, but I can tell you about the smoking pleasures they enjoyed..., which in the end serves to preserve the character of those lucky enough to have smoked them. I'm fortunate in that I've been able to enjoy the use of Pipes that people will fight over when I'm dead. In many ways, these Pipes and I share a common legacy and they will impart the wisdom of lessons learned from old fires to others who smoke them when I no longer can. I enjoy being a part of these Pipe's legacy as much as I enjoy the use of them.