Ansi2txt converts a stream of vt100 (ansi) codes on the stdin into readable text on the stdout. It can also output html that looks quite a lot like your terminal did. Works fine with ncurses output. Compile the C source into the command line tool.
ansi2html colors.vt > colors.html
ansi2txt torturet.vt > torturet.txt
ansi2txt colors.vt > colors.txt
ansi2html torturet.vt > torturet.html (it does blink)