Yes but the lensflares and sun glow are colored, too. it's because only a small portion of the sun's light forms flares, glow and the blinding effect. The color of blinding must match the glow and flares.
It's a result of how human eye work.
There are two types of visual receptor cells in the retina: cones, which there are three sub-types with sensitivity tuned to red, green and blue photons respectively, and rods, which sense all visual wave lengths about equally.
Cones are responsible of our colour vision, but there are very few of them compared to rods. That means humans can only see colour well in good lighting, and when it goes darker, things become closer to shades of grey.
In addition, cones are concentrated on the "yellow spot", or the area of sharp vision in the middle of the retina, while rods are spread more evenly to provide peripheral vision that mostly detects movement. The actual field of sharp vision is actually very small, but the visual cortex does this neat "auto-complete" -trick that is based on fast involuntary movements of the eye, and saves the field of view to the visual cortex, giving an illusion of even overall sharpness in the field of view. You can test this by holding your eyes in fixed position consciously (this is hard and takes a lot of effort and concentration); after some time, your field of view will start fading from the edges as there are no updates for the visual cortex to keep up the illusion. Normally, any movement in peripheral vision triggers a reaction where you normally glance there, which updates the movement. It's actually not too different to modern video codecs in some ways. But I digress.
As a result of the structure of the eye, a very bright light of any wavelength would be interpreted as (painfully) bright light, overflow from the rod cells dismissing the colour information sent by the cones.
There are other reasons why the blinding effect in FS2 is grossly inaccurate and simplified, though, but I won't go there now.
