Solución

        Hidden Phrase:

         MI COLOR FAVORITO ES EL ROSA:


   Words:

      Horizontal:   ROSA (b - 5th line)
                    MORADO (b)
                    ROSADO (b)
                    NEGRO (b)

      Vertical      AMARILLO (b)
                    MARRÓN
                    LILA 
                    BLANCO (b)
                    AZUL

      Diagonal (left to right)
                    MOSTAZA 
                    CELESTE 
                    VERDE (top)

      Diagonal (rigt to left)
                    NARANJA 
                    ROJO (top)
                    GRIS 

  (b) = backwards.
  (top) = starts from top position.