Is there a way to change the color of keyframes on the timeline? For example, I would like all the keyframes associated with the Left Leg to be Blue and the Right Leg to be Green.
There is a way to change the colors of all keyframes. If you go into the user preferences and go to
Themes > Dope Sheet then you can change the colors of selected and unselected keyframes.
I could be wrong, but after using Blender for two or three years I have not seen a way to change keyframe colors for individual bones. Would be a nice feature have for sure.