The little blue line is called DurationBar and in Lite version you can set fixed color for all events by setting DurationBarColor property. You can also decide if you want to see it or not by setting DurationBarVisible property.
You need to change source code to have a possibility of color setting or buy a Pro version which as I assume has this feature.
But hard coding colors based on event name is not a good solution - assume you want to change to a diffrent color or start a new Project C - you need to recompile source code. Its better to create a column called color in events table and use it as a source of colors for an event.
But to achieve this you need to reach the source :)
And as Dan is saying it really isn't so hard. Drag and Drop can be hard, but color changing isn't. All you need is analyze source code, understand how it works, find a place where color is binding, make changes, compile and enjoy.
Dan - chapeaux bas! Great job.