Should you suffer from the problem I've detailed below, here's a quick tool to fix that nearly-impossible-to-read output text in the Pipeline Build Output.
While migrating an XNA project of mine over to MonoGame, I encountered a most atrocious design choice.
Isn't that result text just so easy to read? Apparently not for me, so I put together a quick tool to fix it.
Hooray for contrast!
Download patcher: http://www.mediafire.com/file/a1to8f6i2239qz5/GrayTextFixRelease.zip
To use, simply put in the path to your Pipeline.exe (typically C:\Program Files (x86)\MSBuild\MonoGame\v3.0\Tools\Pipeline.exe) and hit the large button.
To clarify, this tool is merely an unofficial fix for a workflow-breaking flaw until the MonoGame teams can fix it themselves.