Adding Custom Fields to Taxonomy

Hey,
I want to add a Color Selector Field to a custom Taxonomy, so I’ll be able to associate a color with each Term I add to the Taxonomy.
I.e. the color selector should appear in the “Add New Term” Dialog.
http://imgur.com/SOlg10M

My use case is: I have a custom type “Project” and each project is assigned a term from the custom “Category” Taxonomy. The color associated with the term will be used in the front end for borders and highlights on the project thumbnails, depending on their category.

Is something like that at all possible with Types?

https://wordpress.org/plugins/types/