Computervision had that back in the early days, CADDS 4 & 4X. PTC did not carry it forward into Pro/E after they bought CV. While it did have its uses, color assigned to the object as NX does is much better and allows better control.
If you are moving a bunch of objects to a certain layer and then want them colored for clarity, a GRIP or journal could set the color of all objects on a layer to a specified color.
"Wildfires are dangerous, hard to control, and economically catastrophic."
Ben Loosli