In Windows what advantage does 32-bit color give over 24-bit color? Does 32-bit have 11-11-10 bits per pixel instead of one byte each? From my limited experience with win32 programming I don't remember any API's that let programs specify colors with that much depth.
The X byte of 32-bit color is nowadays used as the alpha channel (brightness), and is usually called A. But I'm not sure if Windows 95 supported alpha channels for display.
DirectDraw and Direct3D run on Windows 95 and both use alpha, so it's possible they could do something with it, but they also might just emulate it. It's been 27 years since I was writing video games for Windows 95 :p