The tab starts with the label : “Colors used for boxes in the graphical views”.
(Which seems to be a holdover from old terminology. It seems that “Colors used in diagrams of the Charts view.” would remove an extra terminology conversion for translations.")
All but the “Other colors” (which only has Background for Home Person) are specific to the Charts View with not expansion on the horizon. (Unless there are plans to add backgrounds to the tabular data or Geography pins.)
Given that all the others, couldn’t this be moved to a common “Configure…” tab for the Charts views? Then combine the remaining Colors item into Themes (making it a built-in) and move that remaining “Toolbar text” option to be next to the other Toolbar preferences.
A useful hint is that users can drag’n’drop (from either the pre-populated palette or gradient “Pick a Color” Selectors) to the Colors tab. You do not need to click each swatch sequentially.
This also works when setting colors in the Marker Colors configuration of the All Known Places view of the Geography category.