It is possible to have "CORPORATE" + NW-Color Elite designation printed on your boarding pass.

My observation has been that these designators serve more value to the computer's re-book and waitlist priorities than to NW staff. Twice this year I've had to re-book onto oversold flights when my original flights cancelled (DTW->DCA due to mechanical, CMX->DTW to weather). I was surprised that my (then) Corporate Silver Elite got me a boarding pass on both occasions when I knew Plats and Golds were refused on the same flights (lower standby list priority). One DTW-GA explained to me that lifetime flight miles plays into the decision algorithm too.