I want to be able to see at a glance which styles (if any) are linked to my currently selected element on the canvas.
As many others have commented, Figma does this and it's incredibly useful.

For the record, as with nearly every feature I have requested or voted on in this forum, Figma does this.

Much like in Illustrator or InDesign, when an object is filled with a Library color, that color should be highlighted in the Libraries panel. It's so frustrating to click on an object filled with a Library color, yet not know what exact library color it's filled with.

If I select an element on the artboard I would like to know, if the color is a component color. Is it possible to highlight the color in the components panel?

When you click on an object the colour of the object should highlight in the library. It will be good if you are using a lot of similar colours

So I've made assets of all colors and character styles needed for my project.

When I click on a colored element or a text object in my design, I can view the specifications (e.g #000000 or "Helvetica Neue Regular 15 px") and edit them.

However, it would be nice to see if it matches any of my assets. This is just a simple mockup, but I think you get the point. When I click a colored object and it matches an asset, it would get highlighted among my assets and the properties pane would show what asset it matches with. Same with text.

A subtle solution to character style highlighting would be to highlight the applied style when a corresponding text field has been selected. Example attached.

Cinema 4D has a similar UI solution to selecting applied Materials. When selecting a material on an object in the Objects Panel, the applied material highlights in the Materials Panel. Makes it much easier to traverse dozens of Materials

When selecting a text field it would be very helpful if in the properties panel there was a label for which character style was applied.

I rename my Character styles to reflect their use in development; ie. H1, H2, Block Quote, etc. There is no way to tell, once a style has been applied, which style was applied.

Over time, styles and components pile up. It's hard to remember every style applied. Identifying the applied style would eliminate this problem.

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Same thing for components. Label them on selection, or in the properties panel, so we can see what version of the component it might be.

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And for colors - put the hex number beside the swatch in the properties panel so we can see which shade of grey it is without opening the color panel. Example attached.

Thanks!

ML

An example from Illustrator

And another addition that would be wonderful (just like in Indesign): on the assets panel, right click on a title section (say, Colors) and "select unused". This way we can clean up the mess :-).

Thank you Elaine. Actually not, selecting an object/text should automatically highlight the color/text style assigned, like in every graphics application.