It would be nice to add a label to colors that can help us easily identify specifically what we are using that color for without having to click on it to see its Comments, Notes, or Tags. I don't know if you would add the label directly on the color swatch itself, below it, above it. Doesn't really matter to me. Whatever works.
I'll give you a real-world use case. I'm using Playbook to record all the colors I'm using on a new WordPress website I'm building. The theme allows me to choose a wide assortment of colors like: Primary
Primary Light
Primary Dark
Secondary
Secondary Light
Secondary Dark
Text Color
Headings Color
Headings Hover Color
Link Color
Link Hover Color
I can add these colors to Playbook but as it stands, I have no way to easily see what color is what after I add them, without the need click into the color to read a Comment, Note, or Tag. Not the best experience.