I knocked up this little script for Autohotkey (another brilliantly useful tool) which does the following:

1. F1 starts Colorpic no matter where you are. If Colorpic is already running, it just re-focuses the window. Which is great if you accidentally click off or alt-tab away from Colorpic - just hit F1 again to get it back in focus.

2. If Colorpic window is already in focus, F1 performs a Ctrl-G (toggles the current chip on and off capture)

3. Ctrl-F1 performs an Alt-C (copies the rgb color to the clipboard)
4. Ctrl-C also performs an Alt-C
5. Alt-F1 closes the program.

Of course you can change F1 to anything you like.. I never use F1 for anything and since I use Colorpic all the time it's easy to press. Hope someone else finds it useful.

; Script for Colorpic access & functions.
f1::
  IfWinActive ColorPic ahk_class TfrmMain
    SendInput ^g
  Else
    IfWinExist ColorPic ahk_class TfrmMain
      WinActivate
    Else
      Run C:\Program Files\ColorPic 4.1\ColorPic.exe
  Return

#IfWinActive ColorPic ahk_class TfrmMain
{
  ^c:: SendInput !c
  ^f1:: SendInput !c
  !f1:: SendInput !{f4}
}

Alistair,
Thanks for the AHK script, I just discovered ColorPic and your script works great with it.

~John