Installation:

pip install tailcolor --pre

Requirements:

Requires fabulous, sarge, and blessings:

pip install fabulous
pip install blessings
pip install sarge

Usage

Usage patterns: 
  tail -F [file to follow] | tailcolor
  tail -F [file to follow] | tailflash
  tail -F [file to follow] | tailrain
  
tail -F  can be replaced with any command that provides stdout
  

Known issues

• Issues with buffered output: If you're writing to a file, 'stdbuf -oL -eL [command]' works well if the command you're piping through doesnt have line buffered output (e.g. tcpdump has -l) http://sarge.readthedocs.org/en/latest/tutorial.html#buffering-issues
• Minor graphical glitches when exiting or when the piped process prints to stdout ( pipe stdout to /dev/null fixes )