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Regular expression for syntax highlighting would indeed be a versatile manner to allow for features like this. Now I know that this is not possible in the current version, I need not further search for a way to implement this feature. Thank you very much, Mofi!

It has been 7 years since this questions was posed. UE has developed since. Is it possible to colour labels in today's version of UE? In my case labels are C-style labels, i.e. a string terminated by a colon. Thanks for your answers.