Setting the initial color of the color picker

It doesn't make sense setting a default value on it, the color picker takes the color from the selected target (probably you want to change the color on the component level)

Well, black doesn't make sense either. I would prefere the selected color on the picker to be something else by default, when the component doesn't have any color.

Try to see if changing the defaults color of the property from the Style Manager works for you. You can do it from initialization or via API