The problem that this feature will solve:
Missing the old color picker, and as choosing a default color and transparency in Visualization only carries the color back as default in to Modeling a compromise with some other benefits would be to do a small bridge or integration of Modeling and Visualization.
In Visualization, a tag could be set on, say, up to ten different materials. Those would show up in Modeling as an icon under the Tools icon and expand to the set tags (in color)
Brief description of the outcomes that you expect from this feature:
This fast track would benefit users who, like me, want instant instant access to different colors and transparency, and those who have fine-tuned their materials and find jumping back and forth between states too slow in some sequences.
/BK