open fighter factory, click on the "project" tab and select "open". locate the .def file of your character from there and once you've found it, click on it and hit the "open" button on the bottom right side of your screen.
when all's been done, the next thing you have to do is to click on this icon that looks like an artist's palette:
a window called "advanced palette editor" will pop up.
use the control on the top (marked with red box) to browse through the character's sprites while the control on the bottom (marked with green box) is used to view all the available palettes.
ducksick reacted to Kazagami in How do I view an ACT file?