Nice, worked like a charm! 
For those who are interested, the code and result
import clr
clr.AddReference('ProtoGeometry')
from Autodesk.DesignScript.Geometry import *
clr.AddReference('RevitAPI')
import Autodesk
from Autodesk.Revit.DB import *
clr.AddReference('RevitServices')
import RevitServices
from RevitServices.Persistence import DocumentManager
from RevitServices.Transactions import TransactionManager
from System.Collections.Generic import List
doc = DocumentManager.Instance.CurrentDBDocument
TransactionManager.Instance.EnsureInTransaction(doc)
view = IN[0]
elements = IN[1]
color = Autodesk.Revit.DB.Color(255,25,0)
output = []
ogs = OverrideGraphicSettings().SetProjectionLineColor(color)
for i in elements:
doc.ActiveView.SetElementOverrides(ElementId(i.Id), ogs)
TransactionManager.Instance.TransactionTaskDone()
The result;
On a side note, I spent almost half the day googling and trying to understand the Python API. I can’t seem to find any documentation for this.