Yes, all decent C/C++ IDEs (Eclipse, Visual Studio, CodeBlocks) use different syntax highlighting for macros and functions. The problem with nested macros like this is a common bad programming practice, highlighted here in the C/C++ FAQ : https://isocpp.org/wiki/faq/inline-functions#inline-vs-macro...
To do that you need to do quite a bit of what the compiler does. For example, you need to know the include search paths, which can get modified by compiler flags, and you need to know what flags got set on the command line, for example to discriminate debug from release builds or to specify C99 compliance.
So, you basically need an IDE to do robust C syntax coloring.
I have personally never come across this. Moreover, "common" C editors are vanilla vim and emacs, which don't actually know what's a macro and what's a function without customization (ctags &c).
For that kind of code analysis one wants more detailed information about the source file, like an AST, but Stallman has forbidden that level of detail to be exportable from gcc, and more recently squashed efforts at deeper emacs/clang integrations, both on ideological grounds.
I'd also imagine that since the contest is framed as getting around code reviews the code would be inspected using some other source code display tool. These tools certainly wouldn't do any kind of context-sensitive reasoning.