It sounds way less offensive to those who decry the original terminology’s problematic roots but still keeps its meaning intact.
Totally discussing useless stuff here, but green and red to me give the feeling of temporary actions (and possibly alternating). Intuitively sounds more like slowing and speeding than it does permanently blocking or allowing something.
Black and white have the polar opposite meaning. At this point allowlist and blocklist might be a simpler solution to the “problem”.
Blacklist is a word that goes back to the 17th century. The origin had nothing to do with ethnicity, it had to do with whether someone was against the monarchy during the English Revolution.
Seems weird to remove words from existence out of fear that someone (who’s probably acting in bad faith) might take a bad meaning from it.