Asterisk by color name means you changed a color from it's default set. Saving the colorset with a new name makes it easier to identify.
The default color sets are carryovers from pre-X days when all colors could be changed. X series removed some colors from user edits while still being listed in Preferences causing confusion & frustration. Even so, a user could still load a colorset from a pre-X version into an X version and regain some of those changes... with mixed results.
Note: If you customize a color in the Preferences dialog box, it will override the corresponding color in the UI theme (see Customization - Themes). If you change the UI theme, any custom colors will be lost, and the corresponding UI theme colors will be used instead. Be sure to save any custom colors as a color preset if you don't want to lose them when switching UI themes.
The underlined part is not always true.
Track View Control Text and Values affects Take Lane notes text. In my current theme it's YELLOW regardless of what theme I pick. TE says it's WHITE but Preferences says it's YELLOW. In this case Preferences overrides TE and it cannot be changed in TE. Follow the text in bold above.