A ton of terrible arguments are made here: X is important so Y is not important. ABC is a sacred rule that must be followed without question and doing XYZ does not follow the sacred rule. Wrong thing is done to help dumb people so smart people shouldn't do wrong thing.
The only test is: does it work for you? For a long time, I thought it didn't do much for me, but recently I discovered that highlighting used and unused variables/functions differently helps me find typos, and clean up my code. Comments obviously should be a bit muted. And strings are nice. I don't care much about highlighting keywords, but it doesn't bother me either. I think highlighting the parameters of the function I'm in differently than the rest of my code would help me, but I don't think my IDE does that by default. Maybe it's time to start tweaking my code highlighting.