There is a new Color Picker in Version 9.7 that is available for most text area input boxes in the Admin (on the Edit Product page, for example).
To access the Color Picker:
The Color Picker displays.
4.1. Click the expansion button
4.2. Click and drag the new color from the color block at the top of the dialog to the right hand sidebar.
The new color appears in the list.
4.3. Previously saved colors can be selected from the sidebar by clicking on them.