Ah, the fun of colors and their literary meaning! I'll try not to bore.
Red, in the history of literature (and even some political and historical instances) typically is connected with, not death, but with life, love, power, and the like. I'll explain a little bit on the red. . .
Red is the color of blood. . .which is the life-force of a body. Therefore, in reference to literary works; it is typically used to symbolize life. Also, red is the color of the Greek gods of war (Phoebus and Ares); which symbolise passion and power. Red was often worn as a garmet that indicated power (the Romans of the senate would sometimes wear red robes, as would some royalty later. . .). Red is often associated with love (which would be an anit-voldemort trait); in the red of the heart, the red of roses (which are used to symbolize love and fidelity
As far as some of the negative connotations of red go; "red affairs" were evil doings, and "making red" was the used as a term for killing.
The Phoenix, it so happens, which is red. . .embodies both the positive and the negative aspects of the color red. Phoenix unifies the destructive symbol of fire associated with war and hate with its rebirth and its life-giving powers. Phoenix surrenders to fire and steps out of it cleansed and endowed with a new life.
In summary of red: It is true that red is a color used to symbolize a few negatives (such as war and hatred), but it is not associate with death (although it is with destruction). It is more often used to symbolize power, passion, love, and life.
I'm editing this in just for the fun of it: The alchemy of red. . . Red was thought to be the alchemical color of all colors. Vermillion(mercuric sulfide) and mercury were thought to be preliminary stages to the Philosopher's Stone (you see the significance of this, I know you do!) The completion of this Opus Magnus, the creation of the Philosophr's Stone, was signalled by the reddening of the mixture ("rubedo"). This being the reason for naming the Philosopher Stone "Red Lion" or "Great Red Water".
As for the pigment of Red. . .I'm just going to focus on Vermilion as that's a pretty consistent red (unless we know exactly what pigment Voldemort's eyes are: if you can tell me that, I can perhaps give a little more detail). Vermilion is very permanent (same might be said for Voldemort. . .unfortunately). It is also very toxic, which is the reason th Vermilion pigment isn't used today. Also, same could be said of Voldemort.
Also about red: Studies show that red can have a physical effect, increasing the rate of respiration and raising blood pressure. Definately see the similarities between the color and Voldemort here, huh? Also as a parallel to Voldemort; red is not often considered an ideal color to pair other colors with (with exceptions of green. . .now there's an interesting comparison with Harry and Voldemort's eyes, isn't there). . .and we know Voldemort doesn't generally mesh well with people.
Voldemort's color may very well be red, you know. . .though it does not symbolize death (black and white (though white more symbolizes eternity)). Voldemort is definately a passionate character, as he is passionate about controling the world and acheiving immortality (which he believes he has already done. . therefore death isn't as much of a concern to him as it should be). His lack of love is interesting when you compare it to the color of red in his eyes. Perhaps this is a key of some sort? Also, his absolut power is well signified by red: He is extremely powerful and only continues to become moreso.
On to green:
Green is the color of life, plants, and often is used as the symbolic dominance
of spring over winter. Green is often seen as the color of revitalization, rejuvination, and life. Funnily enough, green can also have a negative connotation. It means young, niave, and inexperienced. When talking about horses. . .we refer to a horse who is only just ridable by an expert horseman as "green-broke." In literary study; it's used to represent both. . .life and also inexperience. I can see in many ways how Harry can be seen as "green."
Since Lily's, and therefore Harry's, eyes were emerald green. . .we'll jump to that color to see what significance the shade could have: Here we can go into the study of how the pigment is created and how it reacts to see if it has any literary significance.
Emerald green is also called Schweinfurt green as it was developed in Schwienfurt, Germany in 1812 by the firm of Wilhelm Sattler.
Schweinfurt green had brilliance unlike any other copper green. Field considered it a more durable pigment than Scheele's green but it had the same tendency to blacken on exposure to sulfur-bearing air. Romanesque murals are known to contain the natural mineral emerald green and have held the color well. The old Masters, who used verdigris and copper greens due to a lack of more durable options, isolated the pigments in between coats of varnish that helped to alleviate changes. Schweinfurt green was also made more stable in a varnish medium. It could not be mixed with sulfur-containing colors, such as cadmium yellow, vermilion or ultramarine blue because they acted chemically on it to produce a deep brown color. Field considered its use to be limited as it was not a green that occurred in nature. The arsenic content made it extremely poisonous and it was blamed for deaths when employed as a wallpaper color.
So. . .looking here at Lily and Harry's significance with emerald green eyes. We can see that Harry is more durable-how many times has he survived Voldemort? (Lily, however. . .was not as durable it would seem). Blacken on exposure to sulfur bearing air is an interesting idea. . .does Harry's heart blacken a little each time he is exposed to Voldemort or the Death Eaters? It could be argued so. . .his hatred and bitterness grow the more they do to him. The pigment holds its color well-so this could mean that Harry will remain morally unchanged; holds to his principles and to his character despite what he endures. It doesn't react well to mixing. . .Another plus for Harry. That would make me think he would not be taken in by Voldemort's lies; or by his own hatred. It's not a green that's natrually found in nature. . .now that's interesting too. That could, unfortunately, point to Harry's demise. And it is extremely posionous. . .which we certainly hope to be the case for Voldemort; thus fulfilling the prophecy.
Have I talked on too long about symbolic colors? Probably. However. . .I can still talk.

I won't though, because I've apparently written a book. Sigh. . .sorry it's so long.
EDIT: I could go on forever, couldn't I? Best not to answer that.