It doea what it says on the tin. You have the option to limit the colors to "web safe" or not. Pretty straightforward. Though I'm not sure how much need there is anymore for the web safe palate anymore, if you need it for some reason, this color picker does the job nicely.

There's one small issue with installation taht might confuse many people: The plugin shows up as a folder -- the author needs to set it up properly as a "package" so that the folder appears in Finder as a single file. However, dropping that folder into the colorpickers directory works just fine.