Partially correct. The red pulley wheels refract, which requires energy.

Believe it or not, the greatest undiscovered secret in cycling history is the Lexan frameset. It allows so much heat energy to pass through that the heat transfer that would otherwise slow the rider is reduced by nearly 42%, documented in hot air tests conducted by Hamsterdam University. Other riders literally describe a kinetic force working against their own strength as one of these carves through a peloton.

Also, with the unmatched performance upgrades of a Lexan frameset, you can afford yourself gold plated components, which, while not inherently faster, blind your opponents into yielding their position in the pack.

The UCI hasn't ruled on these yet, but they should be joining the ranks of funny bikes and bottom bracket bearings from washing machines quite soon.

-Kurt

P.S.: How red?