Using an Observer design pattern to keep multiple forms up to date

Public Class ColorObserver

    Public Shared Event ColorUpdated()
    Private Shared _SelectedColor As Colors
    Public Enum Colors
        Red = 0
        White = 1
        Blue = 2
    End Enum

#Region "Singleton Design Patern"
    REM Use a Singleton Design patern to ensure that this class can only be instanciated once
    Public Shared s As ColorObserver
    Public Shared flag As Boolean

    Private Sub New()
        'private constructor disallowing other to create object directly
    End Sub
    Public Shared Function getSingletonObject() As ColorObserver
        If flag = False Then
            'First instance
            'return a new object
            s = New ColorObserver
            flag = True
            Return s
        Else
            'future object request 
            'return an already created object
            Return s
        End If
    End Function
#End Region
#Region "Color Functions"
    Public Property Color() As Colors
        Get
            Return _SelectedColor
        End Get
        Set(ByVal Color As Colors)
            _SelectedColor = Color
            RaiseEvent ColorUpdated()
        End Set
    End Property
#End Region

End Class