Is there any tool that does both, colorize and filtering lines to suppress form output by regex?
I tend to use a combination of
multitail does exactly what you're asking for and a whole lot more inside an ncurses interface.
multitail (at least on Ubuntu 10.04) ships with a well populated sample config file that will provide nice coloring on most system logs out of the box. A simpler quick-start version of a multitailrc would look like this:
defaultcscheme:foo colorscheme:foo:all my foo messages cs_re_s:red,white,bold/blink:([^:]*): says foo! cs_re:green:.*: says foo! cs_re:cyan:.*: says bar # filter out the baz lines with this filterscheme filterscheme:foo:gets rid of the baz rule:ev:.*: says baz usefilterscheme:foo:/var/log/foo
This should get you started with multitail. If you want to get more fancy, take a look through the sample one provided with it and/or the docs.
You can pipe tail to grep to suppress line output with regex.
Grep can alternatively colorize the parts that match the regex, makes finding a pattern in a log file easier.
Colorizing it by regex might be interesting though.