It is possible to make it so the addon does 2 things:
A: Broadcast to the server when an admin goes into/out of admin mode?
B: When printing "Admin status is now: STATUS" can we get true in green and false in red?

A: Broadcast to the server when an admin goes into/out of admin mode?

Added in 1.0.8

So when I type /convert the server will convert my admin status to  true or false and then broadcast that to chat for all players to see... something like:
<Username> has turned <on/off> admin powers.
<Userame> - name of the admin turning the privs on or off
<on/off> - on when convert is true and off when convert is false