I was working with the built in ajaxtooljit HTMLEditor and for some odd reason, the color picker was showing off the screen. I noticed that the "TextEditorDivContainer" class of the control had position absolute.
To solve this problem, I had to wrap the editor in a div with a class named "EditorWrapper" and change the position of the "TextEditorDivContainer" class to static.
.EditorWrapper .TextEditorDivContainer { position: static !important; }