This is more of a proposed functionality. I have not discussed it with @bricas or @ispyhumanfly.
I think it would be nice to have the API capable of doing conversions. Basically, I saw some tweets back and forth about how it would be cool for github to support ANSI formatting. Perhaps maybe this should be a separate thing, though, where we make a lib like markdown that can do ANSI. :)
I would love to hear what @fcambus, @subtlegradient and @cwensley think.