The error is very direct. It says your class mycolor is implementing an interface ActionListener. According to the java principles " if a class implements an interface the class has to implement all the methods of the interface ,Or else the class has to be an abstract class.
Confusing ..............
To solve the error in your class add a method inside the color.
public void actionPerformed(java.awt.event.ActionEvent){
}
But this is a temporary solution. I would suggest you to do 2 things.
1) Read OOps concepts of Java
2)Use some editor for Java like Eclipse.
Eclipse blog