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I actually prefer full-GUI settings compared to file editing because it is easier to manipulate and understand for common players. There is also no worries that the player might mess up the format. 

Is there a problem with the sound?

Well, I get what you mean, but how can you possibly mess up the format of a plain text file?

There's no problem with the sound, I'd just like it to be customieable as well so one can suport the feelings hat come up with a palette.

Extra spaces and certain invisible text that could accidentally be added could corrupt the data :)

Customizable sounds aren't quite high priority - probably only after customizable colors!

Hm. Then I'd suggest that any data which can't be interpreted is ignored and automatically generated settings overwrite the corrupt data.

Of course - the actual gameplay machanics are more important anyway.