PetriS,
There is no way to sync "color codedness" with Outlook...
I use custom views extensively and view filtering is based on category names.

ragnar,
I would gladly take my words back if there weren't any angry unanswered/unresolved threads dating 2005 and further back on the subject(check first page for links).

Multiple calendars are great to separate work from home, hobbies, business and whatever else.
Colors are a visual aid and not a structural separator.
Every proper desktop PIM app has categories and then colors on top to assign to categories. Desktop PIM apps also have folders that can count as multiple calendars.
What is Nokia trying to reinvent???!!!