Well. Looks like i figured it out... I was missing one material. It was under "Geometry" section so I thought it will give geometry and material to emitter itself. Take look at this..
Now to the question... Why i need two materials for single particle emitter ? That is SO confusing, Ouch, my brain hurts. That is so damn confusing... But now seriously, Why it is "particle material" when is another material required ? Why simply don't merge functionality of spatial material to particle material and use only one ? It will be very clear and well understandable.