I do think that we do see some real colour contrast in M42 - in my 16" it's very apparent that I lose the perception of redness when I lower the exit pupil, so it's dependent on the absolute surface brightness (rather than the contrast with the surroundings).
On some nights, it's striking, when I see faint "red" (which, of course, is simply "more red than the surrounding green") colour in a 40mm Paragon, but no longer anything but the dominant green in a 26T5.
-------------------- 400mm f/4.46 David Lukehurst truss Dobsonian on Tom Osypowski equatorial platform
Orion Starblast (114mm f/4 reflector, Alt/Az)