The main goal is to provide an easy way for to choose a nice color or scheme, and output those colors in a variety of formats. It supports hex, css names, rgb, hsv, and hsl as input and output formats. You don’t really need to know anything about these formats to use the colorpicker or built in image eyedropper.
I started learning about color when working on the template editor and color schemes
You can read more http://www.briangrinstead.com/blog/colorstash, check out the 10K entry, or see the more permanent (and possibly bigger than 10K as I make updates) app here: http://briangrinstead.com/colorstash/.