what i want to know is with this system i lose the ones i have collected i got over 103 pet some are diff color same thing like the cats, and snakes.
Again, read the thread.
Short form, if it's in your pet spell book now as different entries, then it will be different entries in the new system.
There are 4 different colored dragon whelplings (for example), but Azure Whelpling != Crimson Whelpling != Emerald Whelpling != Dark Whelpling
So if you have 1 of each color, then after the patch you'll still have 1 of each color.
OTOH, according to the first post of this thread, if you have 5 Crimson whelplings across all of your toons, after the patch you'll have 3 in the pet journal.
Something Neth posted a short time ago gives me hope. she said to log into each character to see all your pets/achievements/mounts. If stuff isn't loaded to the journal until you've logged in that particular character, then you may be able to pull out pets so you never cross over into having more than 3 and therefor not lose pets.