I was already using a custom palette, but I was just filling it with colors from a user defined set of colors. All I had to do was continue to add entries into the GlobalEntries collection of the palette. That way I could insert whatever logic generated colors into the palette at whatever point I wanted. So, instead of an original palette length of 8 and number of series = 13, I know have palette length of 13 as well & don't bother trying to rotate colors back through a palette collection of shorter length. Using a point template in this scenario still allows me to change the color of an individual point & the legend color appears correctly.
Thanks - Mitch