The Tailor page builder extends WordPress allowing you to create page layouts that are not possible using the editor alone. It’s not a replacement for WordPress’ powerful in-built features.
For this reason, Tailor does not attempt to reinvent things that are possible within WordPress itself. One example of this is the management of actual content.
Tailor’s Content element provides you with an instance of the WordPress editor, complete with all the features that you know and love. In addition to custom formats (like headings and lede text), you can now make use of your own custom color palette.
These custom colors will also be available in all colorpicker controls throughout Tailor.
Configuration of your custom color palette is done in the Customizer.
You can expect to see more features added through the editor in upcoming releases. Enjoy!