It is possible to use perl or bash for ascii colorization of output and send them to a log file. The advantage is that you can highlight errors, info messages etc in a log and view them later. The obvious disadvantage is that if your log file runs to a few thousand Kilobytes or more, you have to use the less command and the results are less than awesome.
A command like this:
tail -n 50 /root/wordpress_update.log
Normally results in:
If less was used for piping:
tail -n 50 /root/wordpress_update.log | less
It now looks like this:
Which is very ugly.
The solution is to use the -R switch in less:
tail -n 50 /root/wordpress_update.log | less -R
Which results in what you needed: