Question: Is there a way to display colors (like in a terminal) in the Debug Console of Visual Studio Code (Version 1.10.2) when debugging node.js code?

Answer: 
v1.45 is adding a bunch of debug theme colors, see <https://github.com/microsoft/vscode-docs/blob/vnext/release-notes/v1_45.md#new-debug-theme-colors>

`debugView.exceptionLabelForeground`: Foreground color for a label shown in the CALL STACK view when the debugger breaks on an exception

* `debugView.exceptionLabelBackground`: Background color for a label shown in the CALL STACK view when the debugger breaks on an exception
* `debugView.stateLabelForeground`: Foreground color for a label in the CALL STACK view showing the current session's or thread's state
* `debugView.stateLabelBackground`: Background color for a label in the CALL STACK view showing the current session's or thread's state
* `debugView.valueChangedHighlight`: Color used to highlight value changes in the debug views (ie. in the Variables view)
* `debugTokenExpression.name`: Foreground color for the token names shown in debug views (ie. the Variables or Watch view)
* `debugTokenExpression.value`: Foreground color for the token values shown in debug views
* `debugTokenExpression.string`: Foreground color for strings in debug views
* `debugTokenExpression.boolean`: Foreground color for booleans in debug views
* `debugTokenExpression.number`: Foreground color for numbers in debug views
* `debugTokenExpression.error`: Foreground color for expression errors in debug views

---

And in v1.46 ([v1.46 release notes](https://github.com/microsoft/vscode-docs/blob/vnext/release-notes/v1_46.md#new-debug-console-theme-colors)), some debug console themeable items are being added:

* `debugConsole.infoForeground`: Foreground color for info messages in debug console
* `debugConsole.warningForeground`: Foreground color for warning messages in debug console
* `debugConsole.errorForeground`: Foreground color for error messages in debug console
* `debugConsole.sourceForeground`: Foreground color for source filenames in debug console
* `debugConsoleInputIcon.foreground`: Foreground color for debug console input marker icon

---

Specific to inline values displayed during debugging (not in the debug console but the variable values shown at the end of lines within the code), a couple of new colors are being added to v1.57:

> 
> New colors were added to theme the inline values:
> 
> 
> * `editor.inlineValuesBackground`: color for the debug inline value foreground text
> * `editor.inlineValuesForeground`: color for the debug inline value background.
> 
> 
> As a reminder inline values are shown during debugging for debug
> extensions that have inline value providers registered or if the
> setting `debug.inlineValues` is `true`.
> 
> 
>
Try using "colors" package from npm. It is very easy to use and you can use features like bold and underline as well. Here is the url for it's documentation:- <https://www.npmjs.com/package/colors>