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Colorcat adds ANSI color to terminal text according to Perl 5 regular expressions. Makes verbose log files or command-line programs easier to read. Includes an example script to add color to cvs's output (colorcvs).
Mutant is a multi-threaded command line monitoring tool, written in Python, using the ncurses library. With it, you can watch the output from multiple commands in a single terminal. Each command has a specific interval and color.