If you could explain WHY you don't like it, maybe we could do something about it. Saying "I hate it, I can't stand it, give old back" does absolutely nothing for improving the game. Why don't you actually try to use the new one, it is actually FAR better. It offers identical functionality as well as plenty of new things (as well as easier to add newer features in the future). The only thing different for first time use, is that you need to select the SET or CLEAR tools, since the editor now runs with the main game, not seperately.
I understand that it is better than the old one for precision, however I prefer the old deco because of ease of use, the fact you can quickly pick a colour to use and it is much less complicated than the new one.
I would like to see both merged into one tool so that you can have the accuracy you might want but also the ease of use of the old.
Newer players would prefer the old tool for simplicity, but if they feel ready they could try the new deco, eventually they could pick one they like and stay with that, or use a combination of the two, instead of being forced to use this one.
I'm not sure how it is harder to select a color. Clicking on the 'current color' square brings up an extremely similar color selection box. The only real difference I see is that it minimizes automatically, which could be seen as slightly annoying.