I think you have this reversed. Objects which are approaching the observer appear bluer, while those receding appear redder. And this is caused by frequency shifting, not by velocity. The speed of blue and red light in a vacuum are the same. As an object approaches, the light waves are compressed and the light seems blue, just as when a train approaches the sound waves are compressed and the pitch of the whistle is higher. With light receding from you, the frequencies are "stretched", causing the light to appear redder (red-shifting, in astronomy), just as the train whistle's pitch gets lower as it recedes.
See http://en.wikipedia.org/wiki/Doppler_effect for a fairly simple explanation.