Yes Crush you can as long as the fading gene fish carries the full set of the gene. Only half a set of the gene is needed to express itself. With this kind of cross it is possible for all to fade but more likely a good many will fade slowly over time and some will carry the gene but not fade.
As to the color that is a different can of worms. With the fading gene it is straightforward on how it is transferred but color is not always so. First it would depend on the non fading fishes base color genes and where in the dominance chart they are compared to the fading fishes genes. So besides the fading gene there are color genes, pattern genes and refraction genes that affect how our eyes perceive a fish looks. Reptiles with scales have refraction genes too. They are a thin layer of clearish cells that affects how light reflects off them. An easy example of this is how a fish can look like they have a green or blue sheen but when they turn or move into a different angle they are silver. This is harder to see on colored fish. So when trying to figure what your offspring will grow out like there literally are hundreds of possible combinations some very similar and others quite different.
I keep seeing people who do these crosses say only a few fade and most do not. I do not believe these people have really given the bulk of the fry a fair amount of time to truly say this. More likely what is the truth is only a few faded before they dumped them out of lack of space to house them. I understand this and try and keep the ones who fade fastest in an attempt to produce a faster fading line of fish. I have had rd and midas grow to over 7 inches and be over a yr old before fading. I have a female rt that for the first three spawns was a non fader start to fade after this last batch of fry. Members on this forum have had fish several yrs old before finally start the fading process and have pictures to prove it. So how can someone say that less than 50% of their crossed fry faded only raising them to an inch or two? A more correct statement would be less than 50% faded before they reached a couple inches.