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There is no effort for standardizing them that I'm aware of.
calibre is gradually beginning to get the code to manage annotations. For example the latest release can fetch annotations from a Kindle and there is some code in development to allow you to do highlighting/text annotations in the calibre viewer, but it's a long haul, since every reader does it differently/has different capabilities.
I'm pretty confident that eventually calibre, thanks its it's multiple active contributors will eventually solve this for most of the common reading platforms, but it will take time.
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