A more elegant way is to listen for the event when the color has been changed:
http://stackoverflow.com/questions/5941960/android-how-to-implement-listener

Within ColorPickerDialog define an event which will fire when the color has been picked. The activity, who launched the dialog, will listen for that event:

// in ColorPickerDialog
public interface OnColorPickedListener {
public abstract void colorPicked(int color);
}

OnColorPickedListener colorPickedListener;

public void setOnColorPickedListener(OnColorPickedListener colorPickedListener) {
this.colorPickedListener = colorPickedListener;
}

// this is the click on the grid view
public void onItemClick(AdapterView< ?> parent, View view, int position, long id) {
// get myColor from adapter and notify the listener
if(colorPickedListener!=null)
colorPickedListener.colorPicked(myColor);
}