Once you get beyond the obvious advantages of Live Color and Swatch Groups, you might discover that there are other great new Swatch features that might be flying under the radar. One of my favorite time-saving features is the ability to select an object that contains an unnamed color and save it as a Swatch under the options menus of both the Color panel (Add to Swatches) and Swatches panel (New Swatch). By default, these Swatches are named by CMYK value, which I always did manually in my illustrations. Best of all, you can select several objects containing different colors and save these colors as a Color Group by selecting New Color Group under the options menu of the Swatches panel. In the dialog that opens, you can name the Group, choose to make all the colors Global Swatches, and also save Tints.
Tip provided by Jeff Witchel, Certified Adobe® Training Provider.