Excellent and simple idea that will, as you say, make life easier when there's several different civs involved and you've got your battlecruiser fleet eyeing up some freighter fleet, but you're not sure if you should open fire, juicey as it may be. So, just click on the fleet and judge the situation - in part, at least - by the border colour.
This should be an option. Calling for things to be an option seems to be a thing, so in tribute of this, I'm going to say this every post from now on. Just sad I can't change my User Name to "This Should Be An Option". Er, is that an option to change your user name? Um...YUSSAHH!! It is!!
Or "Je Suis Someone Who Would Like This To Be An Option"...