Can you elaborate what you mean by "color name" and "color #" ? Do you mean standard color names such as "Green" or user defined color names such as "Drums"? Do you mean RGB color code or a numerical ID relative to the color position in the picker?
Other things I have noticed:
1) Some colors are too similar, and in my opinion not very useful. For example:
2) The small 3x6 color picker looks, at first sight, like a subset of the big 8x11 picker, but when you look closely the colors are not the same:
3) In the big picker, colors are arranged in some sort of semi-random fashion. For example, reds are scattered up and down and left and right. This makes it very difficult to tell apart similar colors that really should be together. The order used in the small picker makes more sense, because each column contains different shades of the same color.
1) User-defined picker: The current picker gives us 88 colors to choose from, but most users probably don't need more than 20 colors in any given project. So, allow users to customize the color picker, including number of rows & columns, and which color goes in which cell. Any RGB color should be allowed, ideally allowing users to manually supply RGB values to define colors. This solves problems 1), 2) and 3) above.
2) Single color picker: Use the same color picker everywhere, not a big one and a small one.
3) Store color picker as part of the song file: Users can then create song templates that use their custom color palette. This ensures portability when opening old projects or opening projects on different computers.
4) Use RGB: The color palette can change at any time. A given project may use colors that are no longer part of the palette (e.g. the user has modified the palette), and that's fine if colors are referenced by their RGB value. In addition, users should be able to click a "..." button, maybe at the bottom of the picker, to manually select colors that are not in the palette, like in Excel:
5) Allow color palette import/export: This would be useful for exchanging palette presets, and for backup.file.
NOTE: If this FR is too much hassle to code, initially you could just provide an import/export palette function, so that at least power users would be able to create their palette using a text editor and import it afterwards, and share it with the community.