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The difference between the two colours is that Orange / Red antifreeze contains a different type of corrosion inhibitor that has a much longer life than silicates, phosphates and borates. Orange / Red antifreeze contains organic acids that protect engine parts from corrosion.
Green antifreeze does not mix with long life antifreeze. Never mix the two colours in a cooling system. The organic acids in orange types will cause precipitation of silicates in the green type and corrosion protection is greatly reduced.
The colors are additives, meant to distinguish one set of properties from another. Unfortunately the colors, and additives do not neccisarily match from supplier to supplier. Best thing to do is to read the labels before you buy.
Well i b(r)ought pink coolant and i hope to **** that its pink coolant in my system as I have to replace the thermostat on my motor tomorrow and can't be arsed having to drain the whole system.