To change the names and colors of Final Draft's revision sets, go to Production > Revisions Setup > Revision Settings (Windows) or Production > Revisions (Mac).
Final Draft 13 / 12: Select the revision set you want to edit and at the lower right corner of the revision set table, click the menu icon (Mac) or the gear icon (Windows):
Overwrite the date placeholder text with the date you want and make any other changes to the revision set's attributes. The color picker (which will change the revision set's color) is on the right side of the dialogue box:
Click OK when you're done.
FD11 and older: Select the revision set you want to edit and make your changes. Click OK when you're done.
You can also create as many new revision sets as you need by clicking the New button and then naming and configuring the set.