from the desk of stinkpot

To make emacs color code by default in Terminal when you’re working on
your Mac, add this to your ~/.emacs file.

;; turn on font-lock mode
(global-font-lock-mode t)
(setq font-lock-maximum-decoration t)

or to toggle color within emacs, just type:

M-x font-lock-mode

thanks to sean clarke for this!