Without doubt there are some very good features to this book. And I can see how radical it must have been when it was first published forty years ago. If you are considering a complete career change then it still has interesting things to say and some useful tools, the pink pages are a new feature that my old edition didn't have; and of course it has a pretty cool and memorable title.
The title though gives away the biggest shortcoming of this book. What "Color" is your parachute? As Shaw said "England and America, two countries separated by a common language"; but it's not just the language that has subtle but important differences. The way our employment markets work are markedly different too. Unfortunately I feel that these differences are not covered by this book. Much of the "getting a job" advice and nearly all of the references are wasted on a UK audience. For instance there are nearly as many recommended Job Councillors for Switzerland as there is for the UK, and the two countries combines do not match New York state.
So if you are new to this book and are looking to change careers, you will find much in this that will be useful. If you have a copy of this already, particularly if you are UK based, then there are more relevant books out there. May I recommend:
Job Hunting 3.0: Secrets and skills to sell yourself effectively in the modern age a much more useful book for finding a job in the UK.