The Color Chip Palette shows the active color and the CBN Code for that color. Whenever you apply or select a color, the Color Chip updates itself to show the new color. When picking colors, it's very helpful to have this palette open at all times. You can copy the CBN Code by clicking on the copy icon .
You can apply different textures to a color on the chip, this gives you an indication of how different surfaces can affect a color.
To Apply a Texture:
On the Color Chip and select a texture from the Textures combo-box.
The texture gets applied to the color.
NOTE: This is for visualization only, the texture does not get applied to your image.