Our website provided a free download of TermColors 1.0 for Mac. The application is included in Theming Tools.
From the developer:
The Terminal is a wonderful tool for UNIX users moving to OSX. However, if you are logged into multiple systems simultaneously, it can be easy to confuse which windows belong where. With TermColors, you can quickly and easily open Terminals of eight different user-configurable colors from an easily-accessible pop-down menu.
You may want to check out more software for Mac, such as Occurrence Selector, which might be related to TermColors.