I would prefer the double bold code, already even suggested that, but for the uses I generally choose, there hasn't been an issue where that would remove the color coding. For example, I've got a script that chooses a different color for each letter of each word I type, and adds 3 spaces to either side so that the background color can stretch out a bit on either side. For that one, the Ctrl+K color code works fine as it's done both at the end of the script, and before the coloring of the letters begins, so it doesn't interfere with the part that is intentionally colored.
