"I have returned"
- Protoss Dragoon, Starcraft
I always find it disappointing that so many players stick to red, black and white for Grey Knight heraldry. Some of the most interesting Knights models I've seen wore rather brilliant green heraldry over the regular chainmail and mithril silver power armour.
I would consider giving individual Knights colours as well as using different designs, to give each Knight a more unique image. Different heraldry designs are sometimes indistinguishable from a distance, but different colours will really make each Knight stand out in a squad. I would suggest this especially for those who are interested in sculpting on more tabards, tunics and robes - by painting all the additional flat space in the same colours as each Knight's heraldry, they would have a very archaic, eclectic and knights-errants image while standing together on the table - like the colourful Bretonnian Knights.
If this is too involved, or if you prefer for squads to have a very unified scheme, then simply use the same colours, charges or fields and ordinaries for the entire squad.