In all honesty I'm not noticing it, I'm not sure how I've missed this since I was pvping for about an hour or so earlier....I think it's maybe because I pretty much just look at the target box to see what buffs and stuff people have going most of the time.
It's awful both Fed and Klink side. I have a hard enough time finding my target when I'm trying to zip around and now it's even worse. I aim at one thing while targeting another. And then you have the added clutter of text, lol. I need to see if the fleet tags have a toggle.
Your target should be a bold font with a drastically different color.