As others have said, babies do change their colour with each shed, but loss of colour in a short period of time is normally due to not enough UV.
I've never heard of the 'solor ray' UV lights...do you mean the solar glo MVB bulbs? If so, those are fine, but they need to be on for 12 hours a day (or 14, or for however long you have your basking light on). 5 hours is not enough UV. If you're using MVBs you shouldn't use another basking source elsewhere (though you can have one right next to it to get temps up if needed), as your dragon might decide to bask under the non-MVB lamp and not get enough UV. This is almost certainly the cause of your dragon's loss of colour. If you mean some other brand that I've just not heard of, then that could be your problem. Other than MVB's, the only recommended UV sources for beardies are the reptisun 10.0 and arcadia 12% tubes, other bulbs can cause eye damage and often cause dulling of colours.
You really don't need a fluorescent to 'simulate' sunlight. It won't harm them I don't think, so its fine if you like the colour of the light, but all they actually need is a bright basking light and a UVB tube, or an MVB which is a combination of the two.
And a few others bits of unsolicited advice:
- try and get your temps more stable. 90-110 is a very wide range. They need at least 95 to be able to digest their food properly, and for babies the basking spot should be between 100-110
- you should seriously consider housing the dragons separately. They might fight or accidentally hurt each other when going for food, one might grow faster than the other and not let it get enough food, and when they get to be 'teenagers' the male will constantly try to mate with the female way before her body is fully ready to be laying eggs, considerably shortening her lifespan.
- don't feed mealworms, their chitinous exoskeleton can lead to impaction
- avoid feeding kale and parsley, certainly as staples, they bind to calcium and limit its absorption
- egg shouldn't be given on a regular basis, and the other things you're feeding shouldn't be used as staples either. There is an awesome list here of what you can feed your dragon and how often:
http://www.beautifuldragons.com/Nutrition.html
- alfalfa pellets and other loose substrates aren't recommended. Tile or paper towel or similar are better options.