I think this is a fine idea but I wonder about this part:
"... should check for the presence of a NO_COLOR environment variable that, when present (regardless of its value), prevents the addition of ANSI color ..."
How common is this behavior ?
That is, the presence of the env var regardless of its value trips the conditional ?
That seems like asking for trouble / confusion ... especially since there is a very well understood practice of setting 0/1 false/true for settings like this.
Is this commonly done and I have just never noticed it ?