see video it will make sense>    www.youtube.com/watch?v=OPgvzeM7Phs&feature=youtu.be
I have used these for years,  I can open any of my songs in tracks paine and  instantly see the chord progression as it plays in time by using standardized color coded clips.  ITS VERY HANDY, doesnt matter  what key I'm in - always  follows this scheme for logical reasons
 
I = red
ii = orange
iii = yellow
IV = green
V = blue
vi = black
vii = brown

REQUEST:  Special "SONG color coded clips with dots". Here is how this could be improved, for example a dot in the lower corner of a "SONG clip" could indicate suspended second,  a dot in lower right suspended fourth, a dot in the upper center could indicate a  dominant 7th, a dot in upper right a major 7th.  Thus visually you see very clearly where you are in the song and whats coming. A mirrored video monitor could be available to  band members - it truly is very handy.
 
I think it would be a mistake to get to granular - just what chord your in and maybe, sus2 and 4 and 7ths
 

No images to view.  Interesting idea.  I would have enjoyed looking at the images to better understand your idea.
 
I've seen a few loop based song construction kits where the different song sections such as intro, chorus, bridge, outro and so on are color coded.  The color coding does help navigating along the song timeline.