If your industrial machinery has a "self-destruct and kill everyone" button, then I think the colour of it is the LEAST of your problems!
Seriously, though, too much color is distracting and you should NEVER use it as the sole way of indicating something 'mission critical' since different people perceive colour very differently.
Seriously, though, too much color is distracting and you should NEVER use it as the sole way of indicating something 'mission critical' since different people perceive colour very differently.