In most of the Chart types that can be configured, limits can be added to be displayed on the chart. It is also up to the need and use case of the user if the particular value, cell in a table or bar must change color as limit exceptions occurred.
As an example, If a limit had been added to a measure on a table report chart, the color property of the measure must be configured to actually change color as per the limit color settings.
This is referred to as providing a "Limit Color Provider" to the cell:
The values in the particular cell will know change colors based on the limit exceptions.
Remember to refresh the browser after the setting has been added to load the new configuration in the browser.