The sparse color operator should allows you to specify ANY number of arguments. From one thru to as many as you like. That is especially the case with a freeform method such as 'Shepard's Method'.
However, some methods work BEST with a specific number of points.
Barycentric works best with 3 points. If more than three points are given then it should generate a best fit average that many nor match any of the given points but be as close as possible to all the points given.
But with 2 points it does some calculations to generate a third point perpendicular to the other two and the same color as one of them so as to generate a perfect gradient between the two given points. A very important special case.
a single point is also a special case, but it is a common special case for ALL methods. Just make the whole image that color.
That is what should happen!
IM v6.6.8-5 is the last MAJOR change to the operator, and that was to preserve the colors in the original image when a limited set of channels is selected.
NOTE that the operators core API input is a complex array of floating point data that depends very heavilly on the current channel setting. There is a function in the CLI interface that parses the users input string (coordinates and color) into that array. This was original meant to be used by other API's such as Perl and Ruby, but it seems those API's do not make use of that function
The most common reason for a error about number of arguments for just the CLI interface is likely a mismatch between the librarys core (the operator function) and the wand (CLI interface). That is the only reason I can see for it.