Usage: pick the element you want to modify and choose the color you like. You can also type or modify color in either "hex color" box or in separate RGB boxes, and then click the right "pick" button. Two "snap" buttons snap the color to the closest web safe color.
You can copy single color from "hex color" box, or you can click on ShowCode and copy the body tag or style sheet.
The palette consists from 216 Netscape colors (so called web safe colors). 11 grays for easier access are also there. Not all grays are part of web safe colors (every 2nd is).
Note: ColorAdjust doesn't work with pages that have colors of links defined in stylesheet. However, you can use it to extract color information by clicking on the ShowCode.