ETC Cobalt Family v7.1.0 - Manual (Page 629)

Cobalt 7.1 - 20140612
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2. You will get a popup confirming which ones are involved.
Device Palettes - UPDATE direct key
If a Palette is loaded to a Direct Select section, or to a Master Playback - it is possible to update it by
selecting the involved channels, holding UPDATE and pressing the corresponding Direct Select or
Master key.
NOTE
This shortcut is not available when an Editor is focused that uses UPDATE
for something else. For example the Preset List.