Hi there,
In some of our themes, like KS Zen, we have a simpler logic for the color swatches where you have to upload your color swatches images to your stores Files with the exact value, in this format swatch-value.png where value is the color value in lowercase. E.g. swatch-blue.png or swatch-light-pink.png
Then, on the "Color swatches" setting, as seen on your screenshot above, you should reference the Color option name exactly as you have the product option. E.g, "Color, color" or it can be "Style," etc. This is needed so that it shows the swatches to the specific product option and not other options like Size, etc.
But if you prefer to have the newest logic with metaobject, let us know your store URL and the 4-digit collaborator code, and we will send you a partner request, and we will change this for your directly to your store.
For everything else, let me know.
