Have you ever been playing one of your playlists & noticed that it skipped over a song? You'll only notice this happening if you're paying close attention, but what's happening is that Winamp can't find the file so it skips to the next song rather than stopping playback.
If you have a large music collection or even have music stored in different directories/drives, chances are that some of your audio files may not be available (e.g. external hard drive is not turned on, or you may have moved or deleted some songs).
The reason Winamp skips over the song is that there's nothing more annoying than when you've started a playlist and playback keeps getting interrupted to alert you about missing files. On the other hand, it would be pretty cool to know which songs Winamp can't find, so that you can better organize your media library.
Thankfully, there's a really easy way to highlight missing files in your playlist.

Steps:
1) Go to Options >> Preferences
2) Under "Jump To File", select "Missing Files"
3) Put a check mark next to "Highlight the background of missing playlist entries"
4) Once selected you can click on Options to customize the background colors.
