It's certainly possible. Not something we've thought about before -- I personally hate syntax highlighting, so if we do it there will be an option to turn it off! :~) But I guess we'll probably get around to it once the big gaping holes in the web site are under control.
I like syntax highlighting, but what I hate is autocompletion. I really can't stand it when editors add in my closing brackets and everything for me. (Except for automatic indentation - that's useful sometimes.)
I think there should be three options in the settings menu, for syntax highlighting, autocompletion and automatic indentation.