Great, nothing is overengineered here at all.
I was looking for something like that for a long time, already wanted to design my own, used MustangPeak under VCL in some projects.
Color theory is a science on its own.
Solving any task completly without leaving out necessary parts in the first place is NOT a definition of Overengineering, IMHO
In case of someone is overwhelmend from reality, you could consider to introduce several "dummy-mode levels",
to hide any frightening complexity from the more sensitive users.