Why have one CoLT update when you can have two? A second release has just been pushed out, with the following minor improvements:

• Improved the way percent signs can be escaped. You can now specify either '%%' or '\%' to get a literal percent character.
• Added logic to clear all custom formats if the extensions.colt.prefs_version setting gets cleared in about:config. Clearing this value is a handy way to reset to the default custom formats.