If using the color of a highlight as a status indicator (such as low, medium, or high priority, for instance), it would be convenient to be able to change the color of an existing highlight instead of deleting the highlight, changing the color of the highlighter, and then re-highlighting the text or area.

CLARIFICATION: While it is possible to select the highlight and use the Color option to select a different color, the colors that are presented are NOT the sames colors available as choices when the Highlighter tool is active.