Black ribbons are juvenile males which turn into Blue ribbons, which are adult males. As I understand it, large males turn into females, which have a really weird green and yellow coloring.
Ghost ribbons, or white ribbons, are a different species (Pseudechidna brummeri) then true ribbons (Rhinomuraena quaesita). They have about a better record then ribbons, but nothing signficant.
In the wild ribbon eels try and 'snear' small fish. In captivity they seem to do fine with small fish, simply because they are refusing to eat. About 90% die within the month due to refusal to eat. The other 7% or so die within a year due to malnutrition because they only eat ghost shrimp and freshwater feeders.
If you are still not put-off, let me know, and I'll sent you some of the ways I've seen their success (which doesn't evolve a reef unfortunently).