How can I remove a texture, color, or material once applied? It is very easy to change them, but I cannot find an option for “no texture” or similar anywhere. Am I missing something?
You can replace the material with another one or remove it altogether by choosing the default material which looks like a dive flag at the right side of the Materials panel.
If you want to apply another material to an object you can just use the paint bucket, you can also select the faces of the object, not the edges, and on the entity info tray click on the materials thumbnails, a small window will appear showing all the materials you’ve used in your model, you can select any material to replace, the first one is the default material, if you want to completely remove a material from your file, do as Dave wrote.
I know Scot is on a PC, and Dave already solved the question, but for future reference, if any mac user stumbles on this thread with the same question,
on a mac, head to the “colours in model” section :
the neutral colour is always the first one. and it can’t be deleted.
it will, just like on PC, take the recto/verso colour scheme you picked in your style. In my case, blueish, in Dave’s, white and almond.
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It’s supposed to be green. 
Ah … Over on this side of the pond Almond is typically more of a tan color, not so much green.
In French we differentiate “almond” and “almond green” too. to avoid mistake we sometime call the first “almond white” too.
almond is tan, like an actual (naked) almond, while the almond green looks like the fruit still on the tree.
But even then, looks like nobody is fully sure what it looks like. It’s like looking for Khaki, goes from beige to olive.
And the person in charge of RAL naming apparently has never seen an almond tree 
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TT replace material - the easiest way
Material Tools Plugin - options for removing by model, selection…
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