LogExpert Log Viewer is an Open Source Log Viewer available on Codeplex. To create log files compatible with Log4View, use the XmlLog4jTarget. By default it shows everything on one line. Select the Options -> Columizer and select the Log4J XML. Then define the highlighting by selecting the highight color for each log level. For more information, see their website:
http://logexpert.codeplex.com/