It doesn't really matter if you agree or not, you're over a decade late! 
btw you could still do %^RED%^GRE%^EN%^RESET%^
to get GREEN in red if you really need it somewhere.
The problem I have with THAT, is that it doesn't allow you to catch invalid code sequences (IE: typos).
I'd rather have my builders see "You want to pick the juicy %^RRD%^APPLE!", and realize they made a typo than have it show up as "juicy RRDAPPLE!", where the error isn't obvious... especially if the colour codes were added by some other part of the system (IE: maybe someone wants to have all extra description keyword matches in the main description stand out).
I realize that the "standard" is already in place, although I would suggest that refusing to update a standard to address known flaws is dooming it to a slow death as people make up their own and stop using it. Another aspect of this is that fact that half the people I've interacted with about this don't know WHY %^ORANGE%^ isn't orange... it's a relic from the days of actual EGA cards doing ANSI terminal emulation, where non-bold yellow was a muddy orange shade, and "bold yellow" was actually yellow. Yet, skip ahead 10 years, and nobody will ever use the "ORANGE" code, because it isn't orange.
It's a pity, really, because the idea behind these codes is good, and the delimiters chosen make it both flexible and unlikely to happen accidentally. Is there an actual write up of the Pinkfish system's definition anywhere? I've used them for years, but never knew about %%^^ being an escape sequence, and after you mentioned it last time, I couldn't find a document about it. I'll probably not follow it 100%, for the reasons I've listed above, but I'd like to get as close as I can anyways!

EDIT: It's not so much for GREEN, as it is not having to worry if a given symbol is going to screw up. I've extended the system to use symbolic names so that builders can define things be coloured according to purpose, rather than the exact colour they think it should be. %^EXIT%^ would be perfectly valid, and would be remapped to %^CYAN%^, and then the subsequent escape sequence for their terminal and mode. Lacking that stricter definition means there's no way to know if a given sequence might break later... I might be fine with "The %^RED%^STOP%^RESET%^ sign!" today, but if someone later makes a "STOP" symbolic name, it will break.