Pass Binding to Ember.Object.create

So I'm trying to mimic how components do one way bindings. How would you do something like:

Parent = Ember.Object.extend({
  color: 'red',
  init: function() {
     this.set('child', Child.create({ parent: this, colorBinding: 'parent.color' }));
  }
});
Child = Ember.Object.extend({
  color: undefined,
  colorObserver: Ember.Observer('color', function() {
    console.log('colorObserver');
  }),
  colorProperty: Ember.computed('color', function() {
    return this.get('color');
  });
});

parent = Parent.create();

So I know bindings are depreciated, but I can't find another way for Ember 1.10.1. Also, there are bugs:

1. colorObserver is not called immediately when parent.set('color') is called (like how observers usually work).
2. Child.create({ parent: this, colorBinding: 'parent.color' }) works, but:

_

var child = Child.create({ colorBinding: 'parent.color' });    
child.set('parent', this); // does not recompute `child.get('color')` to trigger observers

Anyone have ideas?