I’d argue that accurate color perception isn’t necessary if one makes an assumption about the average age of the riders. Given that bright hair in humans is either blond or whitened by age (excepting albinos, which are rare), all of the riders having bright hair means that they’re either blond or old. Assuming that there are few large groups of senior riders, Legolas could come to his conclusion based on brightness alone.
Unfortunately I don’t know enough about optics to say whether this makes any difference.
And Paul Fisher really just wanted to make a cool pen that can reliably write upside down. Congress and The Party agreed that the pen was cool and bought a couple hundred each.