I use unittest (actually unittest2) for Python testing, together with Python Mock for mocking objects and nose to run all tests in a single pass.>
unittest
unittest2
I've also found another colouring plugin for nose: YANC at https://pypi.python.org/pypi/yanc
Works for me with Python 3.5 and nose 1.3.7 (I couldn't get any of the other options for nose listed above to work)