This week I started using a nice and quite useful extension for Visual Studio called VSColorOutput. Quite simply: it colors the build output. It is customizable, but out of the box it is already configured to color standard output lines. This can be quite useful when your solution is large and you have a lot of customized target. I configured a rule for some special targets I have and have been pretty happy with it (my solutions at work are quite large).
This is their web site where you can find more details about it:
And here is a screenshot I copied from them: