/etc/xdg/xdg-xubuntu/xfce4/terminal/terminalrc is in xubuntu-default-settings 14.04.4.
This file is owned by root:root, with mode 0o644.
The actual contents of the file can be viewed below.
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FontName=DejaVu Sans Mono 9
ColorForeground=#b3b3b3b3b3b3
ColorBackground=#133319992666
ColorCursor=#0f0f49499999
TabActivityColor=#262656568080
ColorSelection=#16163b3b5959
ColorPalette2=#a66600004555
ColorPalette3=#10a4a666428f
ColorPalette4=#cccc44440000
ColorPalette5=#121239397878
ColorPalette7=#00008000aaaa
ColorPalette9=#33334ccc8000
ColorPalette10=#ffff59999eee
ColorPalette11=#5555ffff8e37
ColorPalette12=#d554ffff5555
ColorPalette13=#55558e38ffff
ColorPalette15=#4cccc000e666
ColorPalette16=#d999d999d999
ColorSelectionUseDefault=FALSE
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