Who wanted such a re-new color tool?

You can do that now via the PLE

I have a PLE preset for each color and have Metagrid setup with a button for each color (all with the color’s label/name and the button colored to match). Then just hit the button. It looks like this, which I think is how the new Color Tool UI should also look.

You can do the same with Key Commands but if you have a large color pallet it will eat up a lot of key combos.

There is another thread out there about triggering the PLE presets from a midi keyboard which gets around the limited number of available key combos.