The original red/blue article said that Java /didn't/ have function coloring, and that's because it didn't rely on callbacks but rather on threads. Project Loom may in fact be introducing function coloring if I understood the article correctly.
"Project Loom intends to eliminate the frustrating tradeoff between efficiently running concurrent programs and efficiently writing, maintaining and observing them." [0]
http://cr.openjdk.java.net/~rpressler/loom/loom/sol1_part1.h...