If you can't find Americolor, which I prefer, use the Wilton 'Rose' color. It actually works pretty well. My biggest piece of advice would be to color your icing in advance and let it sit so that the color deepens......THEN color your fondant. I have made so many hot pink cakes and I have the hardest time getting the fondant and the icing to match! I ice in buttercream, and use fondant for the accents. If you use Americolor electric pink on buttercream (at least my buttercream...maybe yours will be different) it actually turns a fuschia like color once it deepens. But if you use americolor electric pink on white fondant, it turns hot pink. I've played around with different color combinations over the past year, and what works best for me is to use americolor soft pink on the buttercream, and deep pink on the fondant. It definitely helps to color the icing first and let it deepen, because then you can see what the final color will be while your coloring the fondant (which doesn't seem to change color much if it sits).
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