Hi,
ColorPicker provides a Value property for you to get and set the color from the control. The type of the Value property is "System.Color". How to save and read "System.Color" to your DB is totally up to you. For example, you can use an integer field to save RGB value, or use a text field to save the color name/hex string.
Here is an example of editable schedular:
http://demo.essentialobjects.com/Default.aspx?path=Calendar\_i2\editable_schedulerPlease keep in mind in place editing is not a built-in feature of the Calendar. It is implemented by external code --- a working implementation is provided by the above sample. So you will need to able to understand the code in order to use/customize it. Also the Calendar does not save anything to the database for you either. You will need to code that by yourself.
Thanks!