No it doesn't put the big CHEATED sign on nor do you need the mod but it is pretty clumsy as you need to drop down the console (SHIFT+¬). Then you type "helpusobi 1" to enable cheats, then "sabercolor [1-2] [colour1] [colour2]". The colour is red and the two colours are for dual sabers. The 1-2 is choosing which saber is affected by the colour change.
This gives you a saber but is pretty clumsy. If you want to start with another colour saber and then pick up a new saber when you meet the sith then bring down the console and type "helpusobi 1" to enable cheats and then type "g_saberpickupabledroppedsabers 1" as this will enable picking up other people's sabers.
To get a saber selectable from the new game menu download the mod from above and put the pk3 file in the data folder. If it stil doesnt work you need to rename it with a z at the beginning so that it is unpacked last - the packs are unpacked in alphabetical order.
Sometimes in life you're the pigeon. Other times you're the statue.