I think colorblindness is not being able to see the difference between red and green so he must just have the names mixed up. He'll sort it out with some discrete parental observations like "Oh look at the yellow flowers" or "the sky sure is blue, today". I don't think it is a good idea to directly correct young kids about such things. It could squelch their self-assuredness which is a precious thing.
FWIW, my niece, who is certainly bright, didn't really learn her colors until she was almost four.

FWIW, my niece, who is certainly bright, didn't really learn her colors until she was almost four.