1. A method of compressing an image block comprising multiple image elements into a compressed block representation, said method comprises the steps of: assigning color weights to at least one subset of said multiple image elements; determining, based on said assigned color weights, at least two color codewords that are representations of at least two color values, said compressed block representation comprising said at least two color codewords; and representing original colors of said multiple image elements by color representations derivable from said at least two color values, wherein color representations of image elements in said at least one subset being derivable from combinations of said at least two color values weighted by said assigned color weights.