It would also be helpful if system messages such as the devs asking us questions or the server going down messages came up in a different color.
On the use of red - it would be fine for a fail message, because you don't really need to read fail messages usually - but please don't use red for anything important - very hard to read.
I think these are great default color suggestions. How about add functionality (along with filter said chat messages) to choose what color each type of message gets. Then it can be user based and the user can determine what colors are chosen and what messages are displayed.