In the first case: you cannot edit the properties of a group. It seems like the bold project name you have pointed at is a group and not a project. So no you can't modify any properties to that one because it has no properties.
The icons and font colors of the projects are there so you can keep easier track of your projects in the logs. Usually all tiers would begin with the same project name with only the T1, T2, T3 changing at the end which makes it a bit difficult to see what action in the logs belongs to which project. Hence the colors and icons.
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The icons and font colors of the projects are there so you can keep easier track of your projects in the logs. Usually all tiers would begin with the same project name with only the T1, T2, T3 changing at the end which makes it a bit difficult to see what action in the logs belongs to which project. Hence the colors and icons.