Color Coded Calendar Events

I remember when I was testing the board some time ago prior to my purchase, I checked out the Calendar as it was pretty important to my forums, and I posted in the pre-sales thread about the color coding of events. I could've sworn it used to exist. I'm wondering where it went in 2.1.1. It makes it much easier for members to deduce the type of event based on color than reading each event on the calendar to see if it's something important (like a meeting) or can be ignored (like a party). I would love to see this feature come back. Thanks all.