Xcode 5 has a great new feature where you can hover over a variable name and get a visual representation of a UIColor, UIImage, or even UIBezierPath.
I vaguely reme
Now that 5.1 has been officially released I've released this new blog post on the matter.
To answer your question: Yes, this is indeed a feature available in the new release of XCode (v5.1) and can be used very easily by subclassing an object and returning whatever it is you want to see while debugging in a -(id)debugQuickLookObject method.