You can update the built-in tags and add new tag searches from within Tag Controller, a section of VersatileManager (this is listed under Customisation).

Creating a new tag

Creating a new tag is super easy - add your tag display name, hex code and the matcher term and then the system will do the rest. The matcher term should match your tag (eg. if my matcher term is 'demo', then it should be the same in the API tag area)

If an event with the tag is found when data is updated, it'll display with that tag in the frontend.