Earlier quoted context omitted.
IMO syntax coloring lessens the cognitive load. What is "high level code". You are telling a machine what to do and to do it as fast as possible. Can you still make money telling a machine what to do but not as fast, depends but most likely. We code to ultimately make money in one form or another. Whether you keep that money or put it towards altruistic causes is independent of the shared commonality.
I have to agree. Syntax highlighting lets me recognise patterns in code without having to read it, and I actively avoid reading details I don't need. (To me that is also what annoy me about IDE's - I want to focus on the shape of the code, not other stuff. When I focus on code, I want that code to be all that exists in my mind at that time; but I suspect whether or not you like IDE's is orthogonal to how you like you…
The main use I have of syntax highlighting is instead making sure the computer and I agree on these tokens being what I expect them to be; it's a form of live parsing error control, a direct feedback loop, not a way for me to parse code.
My ideal colour scheme is none at all, save for subduing comments (and being able to toggle that, subduing code instead) and colouring things in/around errors when a mismatch is detected (typically, unbalanced delimiters)