Display small color swatches next to the name of each color label in the context menu. It's not easy to remember the difference between Caribbean and Cerulean!
I always set label color to separate clips in timeline. But I never remember the color name. I have to try every single item in the Label menu until I found the color that I want. If there are sample colors in the menu will make it a lot faster.
I do a lot of grouping of clips by Label/color, and it drives me insane not being able to see the actual color when pulling up the Label menu. What is "Caribbean," anyway!?
I like to change my clip colors by right clicking a clip or group of clips in the timeline, going to >label> then selecting the label color. With all of the new color options I have a hard time remembering which color is which, and which color I've selected for specific characters, locations, or scenes in my timeline. Would be great just to have a small swatch next to the color name to quickly identify!
I'd like to see both options as the OP suggested. It's like the same idea as in the general 'Project'-window a small box with the label color inside, and next to it the name (of the folder/file).