To reproduce:
1. Open attached project
2. Open Main scene
3. Press play
4. Observe that the sphere pulses from white to red and back, as you would expect from the Animator attached which uses an animation clip with 3 _Color keyframes
5. Observe the Log statements that show the color property of the rendered sphere remains black, as in the shared material
6. Observe that the AnimateSharedMaterials.cs script attached to the sphere caches the sharedMaterial of the sphere renderer, and then assigns the sphere's renderer's material to it during Update, but this has no effect on the capsule, which shares the same material with the sphere