The following read/write properties provide access to the objects display colors:
Properties:
displayColor.wireframe
Corresponds to the Wireframe radio button in the Display panel, Display Color rollout.
Possible values are #object and #material
displayColor.shaded
Corresponds to the Shaded radio button in the Display panel, Display Color rollout
Valid values are #object and #material
For Example:
displayColor.wireframe --check the current wireframe color mode
#object
displayColor.wireframe = #material --set wireframe display to material
#material
displayColor.shaded = #object --set shaded display to object's wireframe
#object