CraftChatMessage.fromComponent fails to take into account the style of TranslatableComponent args, causing any styling on args to be completely ignored.
Fixing this is relatively simple, however would cause behavior to deviate from upstream. This commit will fix the coloring in messages logged through MinecraftServer.LOGGER by simply using Adventure's legacy text serializer, which properly serializes TranslatableComponents and their arguments. Note that this doesn't do anything about the underlying issue of CraftChatMessage.fromComponent improperly serializing TranslatableComponents.
Upstream has released updates that appear to apply and compile correctly.
This update has not been tested by PaperMC and as with ANY update, please do your own testing