Updated to an extension for Chrome, Firefox, and Internet Explorer. The IE version doesn't have a working color picker though.
Just an update, seeing as Highwon enabled shoutbox colors for everyone the only use this really has is the emoticon disabling. Please share some feature suggestions. At this point I either discontinue the project or change it's direction. One thought could be automatic formatting for your posts. Say, if you want all your posts to have a certain color automatically.
you could make a little dropdown menu to select a colour and make it a [color /color] in the comment box?