Can't find colour editor or any more colours

I'm working on a financial related spreadsheet right now using conditional formatting and I can't seem to find a bright red to format the cells with. The best I can do is a dark red that looks almost maroonish (it's called "Dark Red")

When I click the text font button (the capital "A" with the colour underlining it) on the toolbar, it gives me a bunch of colours, but no bright red. Where's the "More Colours" or the colour editor option like Word 2003 has? Am I limited to only these few colours?

In xl2003 it's Tools > Options > Color.

The Red colour is normal in first column row 3, right beneath the Dark Red.