The palettes contain 32 of the most commonly used colors, however the real power of working with palettes comes with customizing your own. By defining colors as part of your palette, you gain quick and easy access to the colors that you use frequently in your composition.
There are two buttons above the palette that let you manage the colors.
The first one adds the current color to the palette. Click on the button, and then click on the palette to place the color.
The second one opens up a drop down menu that provides various commands for managing palettes as a whole:
The first items in this list will represent any custom palettes you have already saved. Clicking on these items will load the respective palette. The last three items can be used to save the current palette to a file, to open the palette folder in Windows Explorer, and lastly to set the current palette back to the default colors. Palette files are just text (*.txt) files that are stored in your Documents folder hierarchy.