Do we REALLY need Yet Another Color Picker, when there are already so many out there?

The correct answer is Yes   Take a look at PaletteMonger.  We developed it when we needed something more robust for the upcoming revision to MenuMonger Pro.  Something better than even the for-pay stuff that is out there.

• Displays web-safe colors and ...
• Displays shades of Grey and ...
• Displays the Named Colors (and inserts them as hex codes)
• Handy color preview
• Insert foreground, background colors individually
• Set it to run only with foreground or background if you like
• Use more than one on a page.
• oh... and its free.

Installation
...Is really easy.  Two working example files -- one simple with one field, the other more complex and accessing multiple ones -- are included in the download.

System requirements
Works in any javascript-enabled browser.  Client variables must be enabled in your application.  Works on CF 4.5+

Get Your Copy
Its available here for free at the Adobe Developers Exchange