Hello Yousuf Mohammed,
No, the current version of the control does not support using one palette for several RadColorPickers. We have implemented however, the feature Svetlina mentions - the palette of the RadColorPicker (when ShowIcon=true) is created on the client on demand. That is, the palette is created just before you open the it for the first time.
online article for information how to do this.
All the best,
the Telerik team