The bug can be easily reproduced like this.

Press Alt+K to open the color dialog.
Create a new color scheme and name it "Color Scheme"
Create another color scheme and name it "Color Scheme (Alternate)"
Select "Color Scheme (Alternate)" as your color scheme
Close the dialog
Re-open it
"Color Scheme" will be selected as active scheme

I don't know what exectly the problem is, but i think it has something to do with the brackets.

As i wrote in the topic, it IS a minor bug

CHange the colors up. Its not abug, its just thats the first selection in the dropdown box. So its the first one highlighted. SO maybe the bug is that that happens, but the actually color scheme itself doesnt change

yeah, the sceme itself doesn't change. only the selection is wrong. and it is not related to the first entry in the dropdown. you can make 10 entries like i described and you will see the same problem with every scheme.

excuse me isnt it when u press cntrl+k there is like somthing shaded colored black representing color b4 the number of the color there is a shaded box my problem is instead of that black shaded box that represents the color in my mirc 6.16 or any other 6x.. i see a small "L" look at here in the screen shot
http://img115.exs.cx/my.php?loc=img115&image=shot.jpg look at the name in the mIRC Address book
(The "L" here)4Keep Your Friends Close etc... Thats my Problem instead of a shaded box its "L".

Anyways
Static-AFK is away: Out
Un /uwho
It just strips the colors,

Static-AFK is away: Out
-
So that L has to be in their real name and away message

Note: This minor bug is still present. I just encountered it.

The bigger issue is say you create "mIRC Modern (Modified)" and change this new Scheme.
When you re-open the Colors dialogue it will display "mIRC Modern", but with the new color
selection(s), leading you to believe the wrong Scheme ("mIRC Modern") was changed.

It can be quite confusing if you're not aware of the bug.

Of course, the handy "Reset" button keeps this from being a significant issue.