Pretty much everything is in the title.
Being able to make some cable not connect whit some machine would be a big plus. ie to make it possible for HV cable to "touch" machine without making them explode (not the reason why i want this implemented tho XD)
As for multiple coloring, well maybe actually not a multiple coloring bur more a "blending" kind of way. ie red dont connect to yellow, but yellow does connect to orange and so does red.
Those are just some more idea to make cable circuit more "compact" while working perfectly fine