oppsie, wrong URL, I was playing around with aterm and bashrc so I must have posted the wrong URL.
Anyhow, what I did basically was I edited the /etc/DIR_COLORS
you have to be logged in as root to do that - I also backed up the original file and just did
cp /etc/DIR_COLORS /etc/DIR_COLORSorigBKP
make sure you have this line in it, otherwise just add it
this is appearently what aterm uses
After that you can just simply go through the rest of the file and change colors and font attributes (none, bold, underscore, etc...as much as you like it - the comments within the file are self-explainatory)
Last but not least, make sure you restart aterm and you should have all new colors and changes you've made