alias clr {
  var %c = black black darkblue darkgreen red maroon purple orange yellow lightgreen teal lightblue blue pink darkgray lightgray
  var %m = $1-
  %m = $regsubex(%m,/(\d?\d)(?:,\d?\d)?(.*?)(?=|||$)/gi, $+ \2 $+ )
  %m = $regsubex(%m,/(.*?)(?:|(?=|$))/gi,<u> $+ \1 $+ </u>)
  %m = $regsubex(%m,/(.*?)(?:|(?=|$))/gi,** $+ \1 $+ **)
  echo -b %m
}

Should work I haven't tested it thoroughly, but seems to be working properly.

Edit: it seems mine breaks =(