> But on a terminal window, how would you utilize them?  I mean, you have
> foreground and background, what else do you really need?

Color is useful for color-ls and other neat-o-keen programs that use curses.
(i.e. CD players, etc.)

> I don't think there is a lot of documentation on it past the code itself,
> which should be in -current's sys/dev/wscons, I believe.

Yep.