Colors got different meaning.
Here is list (From my OpenBSD and BASH Shell)
Blue - Directory
Green - Executable binary file or script (shell/python etc)
Bright Green : for all following extenstions:
Red :archives or compressed
Cyan : symbolic link
Magenta : image formats
Normal Green : sound formats
Yellow : pipe (FIFO)
Magenta : socket
How did i got this info?
Simple i use it in day today life from that and from file called /etc/DIR_COLORS .
You can also customized colors in /etc/DIR_COLORS or ~/.dir_colors file