Yes, the defaults definately didn't color that stuff just right. Could you save us some typing and send that example (the code and screenshot) to support@slickedit.com?
Also, a few suggestions:
1) Go to Tools > Options > Color Coding...
2) Select the "asm" lexer
3) Go to the "Strings" tab and turn on "search for end quote across multiple lines"
4) Go to the "Numbers" tab and turn on "C-style" for hex numbers
5) Go to the "Tokens" tab and add the keywords that your assembler expects, and
also remove the ones that do not apply to your assembly language.
You should be able to customize the color coding to look a lot better. If you make significant changes and make it just perfect, maybe your should post the modified lexer (it will be in user.vlx in your configuration directory) to HS2's thread on colors.