To be fair, a blinding effect looks nothing like a white-out at all. Your iris would contract, so the sun's halo would shrink somewhat, your eyes would be in less pain, and anything that isn't the sun will appear far far darker. Don't believe me? Go outside, stare at the sun for about 3 seconds.
You'd need an HDR + eye adaptation system to make that work though, and that doesn't seem easy to code.
Basically, the current blinding effect doesn't reflect any phenomena that exists in real life (except maybe glare off the helmet/cockpit glass, which wouldn't be nearly as intense as it is right now, and would respond differently to angle-to-star), so adapting it to make it "more realistic" doesn't actually make that much sense. If anything, the unrealistic version we have now is more practical. With the new explosion blinding effects, things could start to look real ****ty with multiple technicolored glares competing for screen space.
That said, if someone that really wants to see colored blinding will go out and make a build that can do that, and it actually does look better, I don't see how that's a bad thing. Of course, that requires that someone in favor of the idea to actually do that.
