Hi Jeff
You can apply category colors to Business Contacts or Accounts from the
forms itself, or by right clicking on the Business Contact cards > Categorize
[desired color / category].
You can view Business Contacts or Accounts by category by simply doing the
following:
1. Select the Business Contacts or Accounts folder
2. Select the View menu > Current View > [By Category]
Thanks,
Monica Tsang [MSFT]