In terms of Ninja Tools, you want to look at their bonus stats. Purple rarity can have 4 purple stats, Orange can have 6, before that don't worry about it much you will level rather fast till you can start finding purple ninja tools.
As for upgrading, you c*e already leveled ninja tools for strengthening with no exp penalty (it will give as much exp as you put into it), so you can dump all your green and blue tools into purple ones later on. So feel free to max your green/blue ones.