I believe that pink paw pads (or patches on) are not accepted at GCCF shows but are at TICA. I don't think they would be 'favoured' at TICA but they aren't a disqualification fault.
It is believed that pink paw pads are associated with lockets but not proven to go hand-in-hand.
I had a cat years ago that produced a kitten whose pads went pink at maturity, and she also produced a kitten who was seen (when adult) to have a tiny speck of white on the tip of a toe, which I think is more associated with pink pawpads than lockets are......but all involve white hairs!
It is interesting that this cat never produced a kitten with a locket, and neither did any of her offspring produce them.