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The set terminal dumb is colorless.
I'm interested in getting colored outputs for the dumb terminal output.
No can do. The output medium assumed by the dumb terminal is exactly what the name says: dumb. Just ASCII text, nothing else. There is really no way to control colour in that model.
To get coloured output would require a new output medium, e.g. a curses library, raw termcap / termlib, or just plain ANSI terminal control sequences, or something like that. That would mean an entirely new terminal driver.
Colored text ouput can be obtained e.g. with the help of libcaca, http://caca.zoy.org/wiki/libcaca. There's a new terminal driver sitting on my hard disk which uses this library. If you are willing to beta test, just let me know.
Thanks for your encouraging answer.
Surely, I would be very happy to test such a version.
The caca terminal finally made it to CVS. Requires configure --with-caca=yes to be included in build.
See patch #3586621 for an implementation of a (colored) text mode driver: