I see you are in Wisconsin---the answer is no they are not legal. Your local law enforcement may not bother you but the State Patrol will order you to turn them off. They are not legal to use while the bike is in motion and being driven on the roads. You can use them for "show" when the bike is parked or riding on private property--not to be confused with private property accessible to the public--such as Wal-mart, parks, grocery stores and malls.
Calll the nearest State Patrol Headquarters and they can answer any ?'s you may have.
In Illinois at least its the illuminated color that is the issue. Illuminated Red meaning stop just like your rear tail light.
As far as what color is OK, check with a local cop with your lights off. Be sure that he understands you don't want to know what he would do, but what is the law. I would think, not know, what ever color trucks or cars that are pimped up use, should be OK.
I know that around here (oregon) the undercar lighting is illegal but ya still see the guys with it.
Then ya hear em talking about the huge ticket they got (seems like it's around $700 here - but that's third party information)
If I was you I'd do what was reccomended by flw and check with a cop - probably go to the nearest state cop office and ask what the law is - if there are any applicable laws (I'm sure there are) find out where in the codes they are and print em out and keep em with ya. That way if you are legal and a local/ state cop messes with ya it could be a get outta jail free card.
Curtis - Albany Oregon.
Currently receiving therapy from "Doc" - My 1985 VN700.
Daily rider in NorthWET Oregon.
Ammo Can Saddlebags
Shaved and Rejetted. Coastered. Degoated w/ Hardley pipes.
Bought Feb 2007 with 12K miles.
Hit the 24k mile July 2008