Navigate to the Library via the Page Navigation Menus on the left, and select Colours.
Search for the Colour you want to deactivate/reactivate by searching for the Brand and then Colour and selecting it, once selected a popup window will appear. To view Inactive Colours, select the SHOW INACTIVE button on the right hand side of the screen.
Here you will see all the details relating to this Colour. If you look in the bottom left hand corner of the popup window you will see the Active/Inactive slider. Click on it and set it to the option you want to set the current Colour to.