AFAIK, the CAPS in the Cirrus SR-series aircraft has been used with both success and failure (involving fatalities) a number of times. It (or similar systems) might be an option for other aircraft types as well in the future, but one should be aware that it does not guarantee for survival. If possible, a forced landing is often preferrable.

Regarding aircraft colour-/contrast markings; how effective are they?
After what I’ve heard, orange colour stripes often used on white fiberglass gliders have not been reported as effective.