Choose random pixels from the game object (sprite?) until you've got say 10 samples with say alpha >50%. Or for something more deterministic, choose 20 random samples and sort them by alpha and use the "best" 10.
If that still sounds slow: precalculate it beforehand, so you have a ready-to-go array of say 10 explosive colours for each game object (sprite?).
Or can you slice up the sprite bitmap say 6 x 6 so that you have 36 pieces of shrapnel? Although they'd look odd being rectangular, so maybe try setting alpha of edge pixels to random 0..50% to give jagged edges?