Yeah, it's my Mongerizer.
As was noted, it slows things down a LOT. Each faded character took up TEN TIMES the ammount of space on disk. Ouch.
There is no version 6 port available, but if you want to risk turning on HTML, you can use the online version:
http://pleh.net/monger/index.cgi (In case you're wondering, the term 'monger' is derived from a Windows program called Color Monger, which performed this function...)