Thanks for your work on capistrano_colors, I've been using it for the last few years.
I finally decided that such a cool feature should be in capistrano's core, and so I've opened a pull request at capistrano/capistrano#283. I've also renamed the feature to 'log_formatters', since it does a lot more than just add colors to the logs (e.g. timestamps, and prepending text.)
Awesome! And i totally agree, this should be a core feature :)