Thank you for trying colo for OS X,

here's what you need to do to use it:

copy the file 'colo' to somewhere in your path (/usr/local/bin perhaps)

you should set up a .colorc in your home directory, a way to start
is probably copy the colorc included in this archive, and edit it to your
liking..

colors are picked from any line in the file except lines starting with #, and the lines contain

foreground-color,background-color,(cursor-color),(transparency)

where cursor-color can be omitid if you just want it to be the same as
foreground-color, transparency is 0-100 and will default to 100

enjoy!