Effects Window with Color Labels for Effects

It’s similar to the After Effects beta feature (Color Labels for Effects), but the idea is you can color-code certain effects/bins and even maybe even search for labels in the effect search window to find all effects that are labeled under "red." You could find all the effects you labeled red in the red label category, which could be named anything; the basic idea is that it would be near search, where you can filter by the label color. I do know you can label clips in the project window, but it's just a colored square next to them with no way to really sort by labels from what I could gather.