Convert System.Drawing.Color to RGB and Hex Value

You could keep it simple and use the native color translator:

Color red = ColorTranslator.FromHtml("#FF0000");
string redHex = ColorTranslator.ToHtml(red);

Then break the three color pairs into integer form:

int value = int.Parse(hexValue, System.Globalization.NumberStyles.HexNumber);

I'm failing to see the problem here. The code looks good to me.

The only thing I can think of is that the try/catch blocks are redundant -- Color is a struct and R, G, and B are bytes, so c can't be null and c.R.ToString(), c.G.ToString(), and c.B.ToString() can't actually fail (the only way I can see them failing is with a NullReferenceException, and none of them can actually be null).

You could clean the whole thing up using the following:

private static String HexConverter(System.Drawing.Color c)
{
    return "#" + c.R.ToString("X2") + c.G.ToString("X2") + c.B.ToString("X2");
}

private static String RGBConverter(System.Drawing.Color c)
{
    return "RGB(" + c.R.ToString() + "," + c.G.ToString() + "," + c.B.ToString() + ")";
}