Here is a workaround for color coding records. I use Apple Emojis as the various colored flags to identify groups of records. The down side is that the flag field has to be in a visible field to be effective and the colored emojis are rather limited to color variations. Of course you could use any of the emojis in whatever grouping you come up with. Apple Emojis are the only thing that will show color in the data sheet at the moment. You could copy these emojis just as they are to the Choices panel for your flag field. They each have to be separated by a space as they are shown below.
⚫️ ⚪️ 🔴 🔵
Here is a screenshot showing what it looks like in action:
