Thank you so much for the responses!
I'm in the United States, and currently live in California.
I just found a website at Calbike.org that mentions the CVC code, and yeah, it says you MUST have a white colored headlight. But it doesn't mention anything about an additional colored light of some kind. This product is from the UK so I'm assuming that maybe there laws are the same from region to region for vehicles/bikes, but they didn't take into consideration that the US laws vary state to state?
I'm trying to find if there's a database of bike light laws where I can just check colored headlight mounts. It's a sticky situation because the laser light is advertised to be projected at an angle downward, so they're might not be laws addressing that.