The colors are defined in the code as RED, ORANGE, YELLOW, OLIVE, GREEN, AQUA, TEAL, BLUE, NAVY, MAROON, PURPLE, PINK, WHITE, and BLACK. You can change the value of any of these colors by changing the hexadecimal code next to the name.

Use any text editor to change the code. We suggest the Mu editor but you can use any editor that saves plain text. See this guide on installing Mu.

What values are good? I like to use the color picker at w3schools.com to make choices. Get the 6 digit alphanumeric (hexadecimal) code and put it after the # (which tells CircuitPython that the number following it is hexadecimal).

If you are adventurous, you can add or delete colors from color_cycle, just keep BLACK & WHITE where they are and change the variable colors to the number of colors in color_cycle including BLACK & WHITE.

The code looks for key pressed events and selects the next color in the palette when it detects a key has been pressed. 

There is no save/load in the code but you can look to modify the code as you'd like.