View > As List
 
 
 

Displays the swatches as text only (a much more compact display). In large scenes with many shading elements (materials, textures, lights, for example), this option improves the performance of Hypershade.

When viewing swatches as a list, you can select the size: Small, Medium, Large or Extra Large.

You can also access this feature from the Hypershade tab toolbar.