The most common and most likely answer to this crossword clue is the 10 letter word OPALESCENT
I've seen this crossword clue in Independent
O
P
A
L
E
S
C
E
N
T
More clues leading to the result OPALESCENT
- Rainbow over faded trail
- Shot scene with a plot that twists
- Sparkling old friend with energy and fragrance
- Broken pane with closet reflecting different colours
- With nothing colourless, bouquet’s full of colour
- Sparkling drink gets fragrance after a little work
- Pearly ring with faint odour
- Milky tea brewed with a little laxness on spec
- Work on smell of beer with a milky sheen
- Old and weak on trail getting shot
Buddy explains!

The straight part
We know that "reflecting different colours" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case reflecting different colours = opalescent.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does OPALESCENT mean?
OPALESCENT adjective- Exhibiting a milky iridescence like that of an opal.