In the early days of fractals computers were only able to create black and white images. Thus fractals were quite boring from an artists point of view:
But then as computers became more powerful and had better graphics capabilities, they became able to calculate fractals in colour.
In ChaosPro you use palettes to color a fractal: A palette is a set of colors which are used by the fractal and by adjusting the palette you change the colors. Each fractal has its own palette.
In ChaosPro a palette can consist of up to about 250 different colors (normally fewer), which then are interpolated and so form a "path", the so called color gradient:
The sum of all colors is called the "color space". It is a three dimensional object, normally a cube as seen at the left side (at least if the RGB color model is used).
If you select several points anywhere inside that cube and then draw a line through your points. This is what happens in ChaosPro: You define some colors, and ChaosPro uses your colors and interpolates them to form a smooth range of colors.