black on grey is the worst contrast for reading, but that is what this red on that blue would be. Easiest test is to turn down your contrast and brightness, then it becomes completely unreadable because the red and blue crush to black, whereas the green text is still readable.
They would need to reverse the red to be on a bright background, that blue is not bright enough. But rather than varying backgrounds making it garish for the colorsighted, the use of symbology rather than word colors makes it readable for all. The same applies to the reddening of icons to represent lost durability, it would be better to fade in an X overlay or use broken item art that everyone can read.
When you added green to make it orange you made the red brighter. The best test of it being readable is converting the image to greyscale. This is not an accurate simulation of various color blindness, but good enough.