First of all, thank you for your honesty. Jams are only really valuable to me if I get genuine feedback, and thanks to people like you, I'm able to learn and improve.
I agree with all of your points, and honestly, I think most of them can be fixed without too much trouble. I think the biggest issue is exactly what you mentioned: the player has too much information available, so in the end, choosing red becomes the safest and most likely option. I tried to counter that with multipliers and items, but I don't think I pushed those mechanics far enough to really solve the problem.