Colorama is quite a powerful tool to remap channels with a gradient and use other channels to drive it...
But just like Andrew i really dont like that Colorama uses the default terrible OS colorpicker instead of the much nicer Adobe one.
And the not very good UI design of the circle color ramp (sorry Brian), it is so easy to by accident move one point from 0 to some other value, and you cant be sure if you get it back at exact 0, only guessing and hoping by dragging the point back and watch the image, hoping that it wont set on a value that is 0,023.
It would have been a much better design with just a liniar gradient. I can see the point in the circular gradient UI when using some of the more exotic gradients that flow through colors, but in most cases i dont see the point other than for looking more fancyful :-)
Does Adobe own the source code for these old effects now, or are they just licensed like the bundled CC effects?