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Adobe Photoshop Version: 14.2.1 (14.2.1 20140207.r.570 2014/02/07:23:00:00) x32
Operating System: Windows 7 32-bit
Version: 6.1 Service Pack 1
System architecture: Intel CPU Family:6, Model:5, Stepping:2 with MMX, SSE Integer, SSE FP, SSE2, SSE3, SSE4.1, SSE4.2, HyperThreading
Sorry can't screenshot - in the color picker a black triangle with an exclamation mark appears when I try to select the color that I am trying to use and it doesn't allow me to actually select the color I need
Also if you select a font color while using the Type Tool, you must click the color swatch in the Type Tool options bar, not the the ones at the bottom of the Toolbox.
I should also mention the black triangle in the color picker means it is not a printable (CMYK offset press) color. If you are displaying your work on screen you can click OK to accept the color you want.