To reproduce the problem:
- Opening "Tools | Options | Advanced Options" dialog
- Expand "Options | Editing | Annotation Types | Parser Annotation (Error)." 
- Check if 'Use Wave underline' checkbox and set 'wave underline color' to null.
- Close the dialog and open options window again.
- Switch to 'Fonts and Colors'. The panel displays 'loading settings...'.
It seems like the dialog is hanging but the dialog can be closed.

The following exception is thrown in the log file:
java.lang.NullPointerException
        at java.util.Hashtable.put(Hashtable.java:396)
        at
javax.swing.text.SimpleAttributeSet.addAttribute(SimpleAttributeSet.java:176)
        at
org.netbeans.modules.options.colors.ColorModel.getAnnotations(ColorModel.java:160)
        at
org.netbeans.modules.options.colors.AnnotationsPanel.getAnnotations(AnnotationsPanel.java:290)
        at
org.netbeans.modules.options.colors.AnnotationsPanel.update(AnnotationsPanel.java:170)
        at
org.netbeans.modules.options.colors.FontAndColorsPanel.update(FontAndColorsPanel.java:170)
        at
org.netbeans.modules.options.colors.FontAndColorsPanelController.update(FontAndColorsPanelController.java:40)
[catch] at org.netbeans.modules.options.OptionsPanel$1.run(OptionsPanel.java:326)
        at org.openide.util.RequestProcessor$Task.run(RequestProcessor.java:499)
        at
org.openide.util.RequestProcessor$Processor.run(RequestProcessor.java:932)

Perhaps null value should not be allowed for wave-underline-color if
use-wave-underline color is checked.
More importantly perhaps, the fonts-and-colors dialog should ignore this and
other such exceptions and proceed to display the dialog.

This issue is discussed in the forum at:
http://www.netbeans.org/servlets/BrowseList?list=nbusers&by=thread&from=781382