If the map can be two-colored, this will always produce a two coloring. If using this procedure causes you to use four colors, you will have to look at your coloring and think about it to decide if it might be possible to use three colors instead. If you use more than four colors, you can be sure that your map can be colored with fewer colors, but your ingenuity (not the greedy algorithm) will have to show you how to do it.
This procedure will always produce a dominating set. Sometimes it is still possible to find a dominating set with fewer members, and sometimes it isn't. Each time that you use this greedy algorithm to find a dominating set, you will have to decide for yourself if you have found the smallest possible dominating set that can be found for that graph.