Colors in Concurrent Request Manager Screen

On concurrent manager screen normally along with default form color we see Red, Yellow and Green color for Error, Warning and Pending respectively. Recently I came across a profile that would change this normal behavior and hide these colors.

The profile name is FND: Indicator Colors. The profile also affects the behavior of required parameter which is normally displayed in yellow.
Another point to note is that by setting this profile to No only concurrent manager screen is affected and other forms behave normally.