I'm finding that even if I use less -R, when paginating jut's output I lose color highlights, not sure why... But given that your typical notebook document is long-ish, I would suggest adding pagination support less-Style, if it's not too hard...
Alternatively, figure out a way if possible to make it so coloring survives through less, which would save you from having to reimplement less's features (I'm sure if you add pagination, people will then want search, regexes, etc, and you'd end up having to reinvent less itself :)