I was wondering if I should get Blinds too
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you can use more skins with Windowblinds which gives you lots more options
Are the two programs compatible?
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they are supposed to be... some are still working on that issue. I'm currently downloading/installing one to see for myself... let you know what happens later.
And how are they different, seeing that both are about, well, desktop themes?
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MyColors will only apply MyColors Themes, while WindowBlinds will apply all these
WindowBlinds can also be edited/created with SkinStudio to get the look/feel you want.
MyColors is basically a 'one click apply all this' set up for those that don't want to spend a little more time individually tweaking to suit