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I know you can already tell a lot about whats what using the Alt feature, but I feel like this could also be used for planing future constructions. With the addition of co-op coming soon (I understand this screen currently pauses, but maybe that will change in mp) this could help players coordinate where to build what and where to start storing things. If possible, it would be nice for it to translate over to the main map as well. This way far off outposts could be labeled accordingly.
Edit:
Forgot to include my thought on how it would be done by the player.
There could be a small window when the shortcut is pressed with a color selection method (defined colors, sliders, whatever implements best, im no coder). Uses the grid to define areas of highlighting. Shift could be used to add on new sections to already designated areas. Once area is defined player would click to highlight it where they could change color or define the label of the area.