I think for color blind presets it should just switch out the colors that are problematic for that preset's color blindness. This way the people using that color can memorize, when somebody sais "red please do x", that it maps to the replaced color from their preset. For this to work, as many colors should stay the same in all presets as possible. I'm not sure if just allowing people to choose from a range of "red" would enough for color blind people.
Alternatively, we could maybe have color replacements to chat, so when you type "/red please do x", the "/red" gets replaced with player's name automatically.