Bitcoin is primarily used as money and the word cryptocurrency is applicable in that case. But cryptocurrency can be misleading when you look at other uses of these proof-of-work protocols.
Colored coins or Bitshares could mean that a bitcoin represents an asset such as a stock or contract. We hear about people using the protocol to build Decentralized Autonomous Corporations and set up voting systems. I think that cryptocurrency is an easy word to understand for the general public but I hope there's another word that can capture the broader applications of Bitcoins and other blockchain based systems.