Ability to update blank product color RGB values

We can create / "Define" a custom color for a blank product and select the color we want it to look like by choosing one from the swatches or entering in a CMYK or RGB value. 

The problem is that we can never edit a color after it has been created. We can update the swatch image, but not the actual RGB value. 

It would also be helpful to have the ability to do the same thing with all colors = Pre-loaded brand colors like Gildan, Nike, etc.