(NB this relates to VS2013 not VS2010, but I'm hoping it works for both)
Change the extension of your template file!
Your template files don't need to have the .tt extension (they just need the Custom Tool to be "TextTemplatingFilePreprocessor" or "TextTemplatingFileGenerator"), so what you can do is to change the extension to whatever's most suitable.
I'm templating some javascript at the moment, so I've got some T4 templates with .js extensions.
Highlighting works nicely for the js bits, but obviously looks a bit rubbish for the C# bits and the declarations at the top (red squiggles everywhere). I can live with that!