I never knew this was a "condition".
If it refers to JB73's description, then I do this all the time.
Associating words with a color:
The word "monday" for example... I see a copper color.
Tuesday = blue
Wednesday = orange-red
Thursday = violet/deep purple
Friday = gold/wheat
Saturday = black/grey
Sunday = yellow
Music does that for me as well. Hear a song and it throws me right back to the place where I was when I experienced the song in the first place or when it made an impression in my mind. Thats a different subject though. Research has already explored the sensory/memory connection. Smell being the greatest.
Some friends and I have discussed this thing that we thought everybody could do. Well, that makes three "speshul" people I know

It's not as strong as, say, hearing a certain note and tasting something or smelling music.
Actually, I dont even think it should be a condition. If they see the word "blue" in the color blue, then they'd first have to associate the word with the color. How would you know what
"blue" was if you never learned it? The english word
"blue" isnt the same as, say, the Indian word for blue (I havent a clue what that would be). It's not universal I dont think.
[edit]: psst, vulcan... here's some better examples![/edit]