Can't change Material Color in Unity 4.2?

Hi, I recently upgraded to Unity 4.2, and now I create a Material in Project window, and left click on it, and all I can change is the shader. How do I change the color? (Not in script, but in editor window)

Here is the screencap of my unity editor window. Is it a bug ?

Try clicking the YelkovanMaterial. It looks like the material view has been collapsed.