This isn't a horrible idea, but it's not really necessary.
The legendary items are colored differently for a reason.
If you overlook a good item, then it's really just fault of your own.
So many people complain about nerfing.
This is like nerfing your own intelligence/attention span.
In my opinion, I think the fact that it's possible to overlook an item makes it that much more exciting when you do see one.