I just recently committed support for my OpenPGP key random art Python script to support ANSI color. The idea is to create a "heat map" of which squares the drunken bishop has traversed during his dizzying travels. So not only can you see what your key "looks" like, but now you can sense what your key "feels" like.
The idea is simple- the squares that have not been walked will not have any color applied to them. The squares on the floor with the fewer visits will be "cold" with the blue color, while squares that have been visited many times will be "hot" with the red color, approaching white hot for even higher frequencies. There is a direct one-to-one relationship with the coin and the color. The point isn't necessarily to introduce additional entropy or to reduce collisions, but merely for entertainment value. For PGP key signing parties, standard plain text output should be the default, preventing anyone from being pigeon holed into specific software (browsers, PDF readers, etc).
Right now, the Python script is under very active development, so there are many things missing, such as switches to turn on foreground and background colors, or enabling and disabling ANSI entirely. For the time being, ANSI is default, and the script will fallback to plain text if the TTY or STDIN does not support ANSI escape sequences. The next step is to start working on command line switches. I haven't decided if ANSI color should be the default or not.
Necessary screenshots with the heat map and a key chosen at random from my keyring displayed, both for foreground and background colors are below. Note: the switches are missing in the command to differentiate between foreground and background display. I changed the code manually between the screenshots. Also, I might adjust the heat map, adding one or two extra pink to white colors, bringing red closer to blue, so a larger variety of color can be displayed in the ANSI.