Actually, there is a bug now where (a) not all tags, nor colors are shown and (b) clicking on the tags in the list dismisses it. The second one I've got a fix for. The first one I think I have a fix for but need more input. If you are experiencing (a) above, please email support with answers to the following:
1. Do you have iCloud enabled?
2. Have you edited your tags in Finder?
3. If so, did you do so before or after enabling iCloud.
I may have a test build so email me with the above and I'll see what I can do.