Reliability and Vengeance? It could make for a decent color scheme, but I'm not a vengeful person
green is duty and red is honoing your father
Of course, on the other hand, they're all just colors, they don't have to have a meaning if you don't want them to. I picked red and black for my (of of yet unfinished) armor because I like the color scheme, if I actually wanted it to have a meaning, I'd have picked something more along the lines of blue and green, but I don't particularly like those colors. In the end it's all personal preference. My old scheme of red and gold was also just because I liked the colors, I don't really even pay attention to the meanings.
I'm pretty much decided on a color scheme resembling Sev's from RepCom. But instead of red, I'll be using a dark blue.