In follow up to rating your links, there is a post at Nathan's blog about the need for descriptions that accompany links. The suggestion of color added color codes seems to be a designer's nightmare, and smacks of the not so popular homeland security system. While rethinking some original standards cannot be bad, aren't the existing "title" tags applicable? example: Whuffie (mouse over link)
Those of you looking for other "rate your page" have likely seen bloghop.com color bar.