Okay, the first thing you need to do is to build a rig where the camera is firmly mounted above the objects and then you also need to make sure that you have proper lighting that’s diffuse on the items in question.
Once you’ve done this you should be able to capture pictures from the camera’s point of view of the objects. Then you can use the find_blobs() examples to track the large orange color blob that appears on the defect object. You just need to use Tools → Threshold Editor to get the color bounds.
If you want to execute this easily you have to build the rig as mentioned above to mount the camera well. Until you do that you’re not going to be able to get much progress on what you want to do.
But, otherwise, yes, the OpenMV Cam can do what you want.