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CURRENT FEATURES
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Formatter

  Plain text HEX code (#FFFFFF)
  Css Declaration (color/background-color)

Widget

  Plain Text
  Pre-selected Color Boxes
  Simple Query Color 
  (http://recursive-design.com/projects/jquery-simple-color/)

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ROAD MAP
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1) Make this module a base that could be used by any color picker.
2) include http://www.eyecon.ro/colorpicker/
3) include http://www.dematte.at/colorPicker/
4) include http://acko.net/blog/farbtastic-jquery-color-picker-plug-in/
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REQUIREMENTS
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No specific requirement

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INSTALLATION
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To use this module, simply enable it.

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INSTALLATION - jQuery simple color
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If you want to use the jquery simple color plugin you need to download it and 
place it in your libraries folder (this will usually be "sites/all/libraries/").
You can download the plugin by using the following links or by Drush.

  http://recursive-design.com/projects/jquery-simple-color/
  https://github.com/recurser/jquery-simple-color

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USAGE
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Field
1. Add the field to an node/entity
2. Select the 'Color Field' field type
3. Select the 'Color' widget you want

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CREDIT
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Maintainer and developer: targoo

Development sponsored by Marique Calcus and written by Calcus David. 
For professional support and development services contact targoo@gmail.com.

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More info
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http://www.w3.org/TR/css3-color/#color
https://github.com/mikeemoo/ColorJizz-PHP
http://www.colorhexa.com/ff0000
https://github.com/PrimalPHP/Color/blob/master/lib/Primal/Color/Parser.php
https://github.com/matthewbaggett/php-color/blob/master/Color.php