Nothing works at the moment and we're still playing with design ideas for the final implementation. There will be a number of functionality changes as well that could lead to what you see here at the moment being nothing like the final product.
End result should be something that resembles a means of colorizing log output while catting or tailing. The exact methods of doing this are still being worked out.
We may also include some notification abilities or other queues for visual or audible attention getting.