Microraptor isn't so much an intermediate between non-avian and avian dinosaurs (birds, if you will), it's more a branch on the tree with them. It's later than Archaeopteryx which is still considered a bird despite some recent discussion on the subject.

Bird evolution is a fascinating, complex subject. We're finding feather-like integumentary structures on dinosaurs far removed from birds and and it's possible feathers evolved before dinosaurs did. There is a constant stream of new and exciting discoveries on a pretty much weekly basis regarding avian dinosaur and their relatives' phylogeny and morphology and I suspect things are gong to get even more exciting in the future.

Heck, we even know Archaeopteryx had black flight feathers, other dinosaurs had black and white plumage, reds and russets also feature.