Yes. Either by typing it in. Or selecting a color by moving the two buttons.
Sense has moved on from the slightly boring color choice available before. Hopefully customization as required will be available for all color options soon. But also themes will be added as well. Where the colors will be automatically chosen but in one of a number of types.
Another change that has potential but seems to achieve little at present is the show details button
This can be added to show the details (by clicking an i button beside the camera snapshot icon) on the chart / visualization. But all it shows at present is the details on the chart. So seems to achieve little. Hopefully before too long it will be adjusted to add useful additional information about a chart. By typing it in during set up.
Actually I was wrong about this. The latest release (3.1 SR3) also shows the master item description. This is great for complex measures. I also hope in future an additional overall comment can be added