• This could breath new life to application developer, access a lot more colors. And also kept with the intention of mimicking an old computer. Old computer like Apple 2 can mimic more colors by just use tricks on monitors.

This isn't possible on CC of course, but upgrading the palette to 256 color palette is a good compromise of staying close to how old retro style computers work while give more wiggle room for colors

The limitations are what makes CC amazing

Thanks for the feature request! I'm afraid I'm not going to implement this - the limited palette depth is an intentional restriction. ComputerCraft borrows a lot from the aesthetic of retro-computers (specifically the BBC Micro), and so intentionally limits its colour choice.

See also the discussion in #1363.