[TxMt] Shell script colors work from Terminal, not when run from TM

I've got a shell script that I tried to make a little more readable with ANSI color. It works when I run it from the command line, but when I have it open in TM2 (and 1) and press Cmd-R, the script executes but I get no color.

For simplicity, I tried it with a very simple script:

#!/bin/bash printf "\e[31mhello\e[m\n"

In Terminal, I get a red "hello". In TM, I get

hello

Seems like some kind of escaping thing going on; can anyone point me in the right direction? I've tried a number of variations, including using print and echo (with -e and w/o), but I get essentially the same results.

Thanks, +dru