ColorScheme Designer is one of the best online Color Wheels for richness of options and refinement of display. Just drag and drop the dark dot of the primary hue to see the palette of colors change as one of the color rules: Mono, complement, triad, tetrad, analogous, and active analogous plays out its color blends Adjust Scheme tab at the bottom left of the page that allows users to change the Saturation and Contrast. Also see an earlier version of the color wheel.
Adobe's Kuleris is another top notch color wheel with many drag and drop handles. Kuler has 6 color schemes to choose hues from: analogous, complements, custom, monochromatic, shades, triad, and custom. Be sure to try Kuler's very nifty Create from Image and Pulse menu items.
Colors Jack is a very dynamic color wheel with all the important controls at your mouse tip along the top of the webpage. Also just click and drag any of the dots on the color wheel for dynamic changes to your evolving palette. ColorJack has some great tools, a Color Blend Studio for designers and a great set of scripts for for developers.
COPASO is the colorwheel available on the very popular ColourLovers website. The site is like ColorMatters but has many more actual tools to create and compare color schemes and palettes. Also users who register [it is free] can save the palettes on the website for later refinement or use. Also ColourLovers is a fun place to be - comparing palette choices and color ideas with others.
Aviary Toucan is part of 6 online color and graphics processing tools built in Flash. These tools are another example of how good the Web UI can be. The Toucan color wheel is very nifty in the way it allows users to create and refine color palettes.
ColoROTATE provokes a lot of reactions - one colleague asked "Why did I save the best for last?". Perhaps it is because of the novelty of the Color Crystal and getting used to navigating and manipulating around. Like Adobe's Kuler, there are some novel ways of selecting color schemes with ColoROTATE. And the tool is available as a Photoshop CS4 plugin for $40.