Hey hey DigitALL -
You can adjust the colors listed in the editor window!
Open up your ./clientscript/vbulletin_textedit.js and find:
Code:
/**
* Define available color name options - keyed with hex value
*
* @var array Color options
*/
After that, there will be an array of colors that you can set!
Though... This only changes the dropdown box of colors... people can still use the BBCode [ COLOR=#XXXXXX ] [ /COLOR] to get a nonlisted color.