MCA Suite has created the ability to set colors for your different statuses depending on the last time a deal status was updated for the deal.  You can find the configuration from the Admin > Setup > Application configuration / Deal Status (tab) > Set Colors.

From this screen, you can select any one of your custom statuses and choose a time duration and a color.  If you want to keep a status highlighted at all times, choose 0 minutes, 0 hours and 0 days.  Otherwise, if you choose for example, Submitted Status with 1 day and orange, any Deal that has been in Submitted status under a day will be highlighted orange.

Here is an example of keeping the 'New' status the same color at all times.  Default of 0 days, 0 hours and 0 minutes.

On the deal search page, you will see the 'New' status highlighted green.

Here is an example of the 'Underwriting' status having multiple colors depending on duration of time the Deal status has been the same.  The smallest times always takes priority.  Here: A deal's status duration of 0-1 hours would be green, 1-6 hours is blue, 6 hours - 1 day is yellow and so on.

When using this feature, it would be best to add the 'Status Duration' column to the deal search page.  You may read more about customizing the deal search columns here