Gated behind a boolean environment variable WINETEST_COLOR for the moment (default off).
I've experimented with this locally for a while, and I've found it helps me immensely when looking for a specific kind of message. Too often failure or succeeded-inside-todo messages get buried among todo messages, WINEDEBUG output, or (in the case of some badly written test units) trace() output, but this has also helped me check whether there are any todo and skip messages, in cases where I want to make sure that one or the other doesn't show up.
I'm quite open to bikeshedding :-)