I prototyped out an arcadey-style effect of flashing text (1980s "white-red-blue-white" cycle) using CanvasModulate + AnimationPlayer on a Label node, which worked great until I discovered that CanvasModulate affects everything on the scene, not just the node it's attached to.
Instead I decided to just change the text color directly for every label, except that whenever I open up the AnimationPlayer panel, I the option to select a custom color for the label disappears.
How can I animate a color change for a node?
EDIT: apparently a bug: https://github.com/godotengine/godot/issues/7001