The colorization for Mega Man III is still going but it's horrible because it's done with the GB Colorizer. See, even the Robot Masters' portraits aren't any accurate to the original, being done on their own when you can just take them from Mega Man III for the NES.
Spark Man, Snake Man, Shadow Man and Gemini Man are all here and ready to use, so are the palettes for the sprites. This technique should be also used on Mega Man I, II (along with several graphic fixes/improvements due to the game being BADLY DONE) and IV.
Also, why not add weapon icons to the HUD and pause menu to the other games, like it's been done on Mega Man V?