Yep...if you buy armor, it will start with the standard 'grey' look. By buying Dyes you can change the appearance again.
And you will obtain new 'kaboom!' spells, don't worry. The first time you throw in your Meteor Shower, Searing Flames, Earthquake the game will be different. Same goes for when you accuire your first 'Elite' skill. These can only be captured by the 'Signets of Capture' near dead bosses sharing your profession.
Those Pirate grunts will think twice then