Here's another one of those "What took so dang long?!" features. Check out the new whiteboard:

Having a palette will certainly make switching colors easier; the palette even saves between sessions and updates globally if you modify it. Also, to make drawing even easier, you can draw using the right mouse button, which will draw with inverted colors (using the background color as the foreground color and vice versa). Oh, and you can right-click on an image and copy it directly to the clipboard, too!
At this rate, these whiteboards might actually be usable before too long. ;)