Color tables lets you choose the color look-up table to apply color to the selected raster.
Select a color table from the list and you will see the selected color table being applied to the raster opened in the current map window.
For example, the numeric grid below is opened in a current map window.
If you select the color table DEMPrint.clr from the list, the color table is applied onto the raster, as shown below:
All color tables in MapInfo Pro Advanced are stored in C:\Program Files\MapInfo\Professional\Raster\ColorPalettes. If you add a color table to this folder, it will appear in the Color Tables list.