It's a simple matter to run your program outside the IDE in a terminal window (perhaps via batch file).
You can also use LogError in the IDE, but that only gives you red.
I think these are the only ways to display color in the console output of a B4J program.
If Erel would make the Logging TextField in the IDE compliant with ANSI escape codes, jColorLogger would display color in the IDE. And he could easily implement a LogColor method. NetBeans has this feature.