As a designer I tend to believe in the economy of form. Why make your web links a different color, bold and underlined when a simple color shift is enough to visually distinguish them? Isn’t it?
While I haven’t changed my “less is more motto”, I do think it is important to keep in mind that a color shift may not be noticeable to all viewers. About 8% of males have some form of color blindness.
When designing web sites, information graphics, maps or charts that use color to distinguish different pieces of information it may be helpful to test your design using a handy tool called the Color Oracle. The plug-in uses a menu that quickly converts your art (regardless of the program you are using) into a palette that simulates what colorblind people see. Very handy!