After trying to work this continuous granny square in full rounds of a single color, I discovered that there was not a good way to carry the next color up for the subsequent round without leaving a long loop on the reverse side where I changed colors (see below). I was afraid that the only way to “fix” this would be to add a lightweight flannel backing to cover the reverse side and hide the loops.
I pondered this problem for a while and concluded that the best way to avoid it would be to use a two-color spiral method, so I went searching for a pattern and found The Continuous 2 Color Granny Crochet Tutorial by Fiber Spider on YouTube. Ta-da!! This method is an absolutely brilliant way to work a two-color continuous granny stitch blanket without having to tie off after every single round (and have eleventy-bazillion ends to weave in when you’re done, plus all those ends would equal a lot of wasted inches of yarn), and it eliminates the big-loop-from-carrying-up-the-yarn problem I was having. Like I said: Brilliant!!
Here's a comparison of the obverse view of working the blanket in full rounds of each color (left) vs. the half-rounds used in the Fiber Spider method (right). As you can see, the different methods are undetectable to the eye, but Fiber Spider's method results in a blanket that is fully reversible and looks tidy on both sides:
Works when they were still in progress ...