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I wonder if the account is accurate. In any case, it wasn't the first color system (Baird did this in 1928), or the first electronic color system (again, Baird in 1941). It also wasn't the first two color system (one version of Baird's Telechrome CRT was two color).
Also, I wonder if two-color receivers were actually ever manufactured. I can't believe that a two color CRT was made, and I'm not sure how a two color system would be much cheaper than three.
The whole thing sound like an urban legend that has been embellished over the years.
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