FailureHandling.CONTINUE_ON_FAILURE is not showing red in log

If I were you, I would rather writte as follows:

4 WebUI.clickfindTestObject("Main Application/button_ok")
5 boolean result = WebUI.waitForElementPresent("Main Application/Level Contract/text_infoLog", 3, CONTINUE_ON_FAILURE)
6 if (result) {
      /* when found */
      KeywordUtil.logInfo("everything is fine")
  else {
      /* when not found */
      KeywordUtil.markFailed("text_infoLog is not found")
  }

See KeywordUtil (Katalon Studio API Specification) for the KeywordUtil class.

What’s the difference between WebUI.verifyElementPresent() and waitForElementPresent() ?

See the following dicsussion: