Most other texture maps in 3dsmax have the ability enable/disable texture maps within with a checkbox (Mix map, for example).. this can be handy when building shaders, and would also make VrayCompTex more of a direct substitution for other legacy maps.
that would probably be ideal.. in some texture types, there is no color swatch, for example in a NormalBump texture type, and no value is used (as if there was nothing there at all). although that probably only makes sense when a single color is not usually an acceptible substition as is the case with normal and bump..