When I included special coloring for EZRTools, the specs came from a .dat file not the .upd file, but as part of a addon package. You can find out more about upd files by downloading the upadate.zip file located at the bottom of this page. http://multiedit.com/downloads.php
The easy way to get your colors is go to Tools-Customize-Colors type a new name in the color template name list. Modify the colors as you want, then press SAVE (very important). Then go to Tools-Customize-Extensions select you extension(for jpsoft) and Edit. Then , on the right, for colors, select the name of the new color pallet you chose.