Science Journal recently published a study reporting that Red boosts Attention while Blue significantly enhances creativity. Over 600 students were studied in six different tests conducted by Dr. Zhu and her Phd student Ravi Mehta where they gave students various tasks to perform on computer with red, blue and white backgrounds.
This color association is probably not genetic rather learned over the course of ones life. Red is almost always used in traffic, in school for alertness, correction and for attention seeking. While blue is usually associated with peacefulness, as in oceans next to white sandy beaches, the beautiful serene blue sky among others.
Dr. Zhu does point out that Red has a different meaning in China and therefore may not get the same test results in other parts of the world where different colors mean different things.
Read more about it on Discovery at: http://dsc.discovery.com/news/2009/02/06