Symptom: While designing/editing with photoshop color picker is not picking exact color or applying filter effects are not working or similar issues.
Solution: Photoshop is a heavy software, i really don’t know what exactly cause this issue, but i found a quick fix for this, and here it is:
Step 1: Click on the photoshop icon, and immediately press Ctrl + Alt + Shift. (You need to press these keys real quick just before the splash-screen shows-up)
Step 3: Click yes and you are done. Enjoy!
What i think is there is some kind of cache or similar thing saved in that settings file, and when it gets corrupted then photoshop make troubles.