It is recommended to import the demo content and settings for better understanding how the color settings work in this WordPress theme. See Import Demo Content.
In the WordPress Customizer there is Palette and Color Schemes. In the page builder there are color settings for page section (section is a top layer row in the page builder).
Color Scheme is set individually for each page section via page builder in the X40 Design group of the page row settings. In the page builder select
Edit Row / X40 Design / Color Scheme.
The color schemes are specified via WordPress Customizer in the
Appearance / Customize / Color Schemes. This Customizer section has Pallete, Site Scheme and Section Schemes.
Pallete has predifined colors that can be selected in the color scheme.
Site Scheme defines colors for common site elements like menu, decorated borders and control elements. Section Scheme defines colors for page section elements like text, headers, links etc.
Color Schemes in the Customizer are one site scheme and few section schemes:
You can use any scheme for any section, but the schema name corresponds to scheme using in demo content. Schemes with Free in the name are not used in the demo content.
Each color scheme contains the elements for which you can select a color from the Palette.
In addition, the section schemes contain the default filter parameters for the section. Keep in mind that filter parameters can be overridden in the page settings. See Filters for more details.
It is recommended to set the color scheme only for top level rows. If you set the color scheme for the nested and parent rows, this can lead to an unexpected result due to the cascading application of styles.