There's at least two phases of developing code. There's the solving of the problem at hand, and getting the expression of that solution towards syntactically correctness. Colour syntax highlighting is merely a "live syntax checker" - albeit not as good as a compiler or linter (it's simpler in nature). But the value it adds is sufficient to make it a useful aid. It's the coding equivalent of Word's squiggly red line s…
I find the yellow and green parts of his sample text particularly difficult to make out, because of those color choices, not because of the changing of colors from word to word. If Åkesson wants to claim that “it will inevitably decrease the legibility of the text”, he needs to cite a study demonstrating this. As far as I know, he's just speculating.
We have a historical reason, at least, for writing prose in just one color: it is much easier to write or mass-print in one color. But now we live in an age of computers, and we could perhaps have the computer syntax-color our prose when we read (and write) it on screen and print it to a color printer. If a reader had time to get used to reading syntax-colored prose (and the color scheme were chosen well), would the reader be able to read faster or understand the material better? This question has to be answered by testing, not speculation.