If you mean each of them is a different colour, then I agree that that's pretty awful. However what I do find useful is when the values are coloured according to what percentage they're at - so if your health is cyan you know you're at full health, if it's yellow you know you're in trouble, if it's red you know you're about to die, etc.
Personally I prefer to use very little colour as well. I display tell and chat (both of which are OOC and use your account name rather than character name) in green, IC communication (eg "say") in yellow, and highlight peoples names in white. The only reason I did the latter was to help draw your attention to who is performing an action, because "<distance> feet <direction> of you, " is prefixed to most output.
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