xtexan86, you may be right about the "black aggregate" being exposed upon sanding. But I think sanding of the bleached spot is the best option to find out whether it will help or not. I believe that sanding will help expose the blue color again. Any kind of acid treatments would be a mistake and probably makes things worse.
Regarding the comment that blue colors take many years to fade, while that is true for the best blue pigments, it is not true for cheaper types. Inexpensive organic blue pigments often fade within a few months to a year. My concern is that your photos show similar blue color fading due to chlorine. And I am wondering if the blue color of your plaster begins to fade elsewhere over the next few months leaving the gray exposed.
As a possible remedy for the single spot, I agree with you that placing a mosaic tile into the plaster can help with the aesthetics.
As to your question regarding the topic and info of color pigments fading and being bleached by chlorine, see this article.
Colored plaster and aggregate finishes are found in more and more watershapes these days. But as Que Hales, Doug Latta and Kim Skinner discuss, not all pigments are created equal -- and knowing how to choose among the options can be the key to a project's success.
watershapes.com