Funny, I was just thinking about this very point yesterday; I have am ancient barely-started kit and my worries are more to do with whether the decals will stand up to transferring. Anyway, I'm sure that one found red/blue roundels in WWI, on night fliers. Sometimes they simply painted out the white, quite crudely. But I've seen a number of pictures of red/blue two colour roundels, mostly on night fighters like the Sopwith Comic. Most of the pictures in the Datafile(s) show n3 colour roundels, of varying sizes, but as the war went on it seems 2 colour was preferred.
Please post some pics of your build if you have time!

Mark