Orange morale is still Good.. I save my boosters and only use them when they reach Poor so I'd use 2 for a full heal.
I've had players get 7/8 rating while Poor and had low rating players whilst Superb
Plus I wouldnt waste Morale boosters on injured players and my bench so wouldnt even count them, besides I boosted any Poor rated players once I've set my 1st team and also dipped into my Red boosters to heal 3 with the highest CND (cost me some 40 boosters)
And you're counting <4* players that are only in the 1st team because of the recent injuries