1. A method of generating a color look up table for managing multiple color palettes in the memory of a computer with an attached display device, the attached display device having a predetermined color gamut and the memory containing an object oriented operating system, the method compromising the steps of: (a) selecting a predetermined number of shades of the color gray to be included in the color look up table; (b) subtracting the predetermined number of gray shades from a maximum number of colors available in the color look up table to determine a number of working colors in the color look up table; dividing the number of working colors in the color gamut of the display device into a predetermined number of different colors, each of the different colors having the same number of shades wherein the predetermined number of different colors corresponds to the largest integer having a cubed value which is less than or equal to the number of working colors; (d) subtracting a value equal to the cubed value of the predetermined number of different colors from number of working colors in the color look up table to determine a number of remaining colors available in the color look up table; and (e) assigning colors to each of the remaining colors available in the color look up table.