Outlook: Modifying the Calendar's Color Labels

How can I modify the Outlook Calendar's color labels in Outlook 2002?

To modify the Outlook Calendar's color labels in an Exchange public folder, you must be the folder owner. Choose Edit, Label, Edit Labels. You can change the text for each color, but you can't increase the number of labels or change the colors. Be aware that any color label customization applies only to the folder that you customize. Each folder can have its own set of color labels.