Here's what I do/have done on a BBB. I could not install emacs via a package for some reason, and by the way I am running Angstrom on it.
Code:
wget http://ftp.gnu.org/gnu/emacs/emacs-24.3.tar.gz
unzip the package
./configure --with-xpm=no --with-gif=no
make
make install
emacs takes up a lot of space and I didn't experiment much to figure out how to make it smaller. I don't normally have it on the target and instead I use emacs from my development station; Ubuntu or MINT and then scp my files to the target then run my builds on the target. Those flags I had to use to get it to compile. I'm running the 3.8 kernel from late September last year, not sure if they yet have any kernel updates for that. You can try different flags at your leisure, or you may have a different distro.
When I ssh over, I use the -X flag:
Code:
ssh -X <root-or-user>@<ip-address>
emacs &
I get colors when I run it this way. Running emacs on the target takes up too many cycles IMHO; and since I'm developing on the target, the application is like a kiosk app which runs at boot, I make an install file, then reboot. Therefore my emacs session can't stay open, and that's another reason why I prefer to run emacs on my dev station and scp my files over. You didn't say you were developing on your BBB or what you were using it for, but just saying that by compiling emacs on the BBB and attaching via ssh with the -X flag, I can run emacs and do see the colorings as one normally does.
The other thing I just realized is that it is sometimes glacially slow when editing on the BBB; I can't live with that, I type pretty fast and need to move around the buffer; have several buffers open and switch buffers rapidly to cut/paste or just review code. If it can't keep up it's not worth it to me.
Attached is a view of what it looked like.