I use color labels on my layers because it adds a level of organization on top of grouping and naming, it makes finding stuff quicker to the eye. I am most comfortable associating layer colors to specific things (multiply, linearts, text, sketch, etc.)
In the available 8 I find myself tight, my request is to have the whole color wheel selectable so I can have all the labels I ever want. Perhaps a color history/pinning within it too, so to be able to repeatedly use the same ones.
It might be easier to increase the current facility to be 16 or more preset colour labels.
I guess it could be possible, but that would require somewhat a big change in the color labels system (as in, it’s not as easy as just adding a color wheel), since they are used not just for coloring the layers in the Layers docker, but also logic: Fill Tool, Selection Tools, I think Color Picker as well. And filtering the layers in the Layers docker as well. But I think it should be doable.
Yes please!!! 
I like the example @Studio-Kyubo showed from CSP. If adding the possibility of color picking from a color palette, maybe extend the number of colors to lets say, something like from 27 to 50 colors? I guess a good assimilation could be how Blender and other 3d software’s like Substance Painter can detect ID colors from bakes (no idea if this makes sense but I guess a liited number of hex colors exist in the ID workflow in 3D apps for assigning materials, no idea if is possible to have infinite colors…) Even 16 or 23 colors would do just fine for the moment. Having only 8 colors as for now, sometimes just limit my color coding workflow and in the end I just decide to not use them at all.
Also, voting for this feature works with only giving a like to the thread? or there’s a page for devs where I can go and vote for this?
Nevermind, I saw the vote button at the top 
I use a script to cycle through names and labels, saves a bunch of typing and clicking (DRY), but the amount of colours is a rather limiting. I’ve tried to associate the colours with names, and use the groups to properly “name” an object.
Below is a little mockup. Light or dark tinted patterns. Lower frequency is probably better, and the contrast between layer name colour and background would need consideration.
