PhraseExpander can automatically highlight macros to make a phrase easier to read.
To toggle Syntax Highlighting
1. In the Phrase details pane, click on the Syntax Highlighting button 
The syntax highlighting will be toggled
To make phrases containing a lot of macros even easier to read, PhraseExpander can display them in Easy View, so that the Manual Input and Insert Phrase macros are shown in a more compact way.
NOTE: the syntax highlighting works only with Plain Text phrases.