I'm all for eliminating language that IS racially insensitive because of the etymology (history) of the word. However, this isn't an example of that type of language. Changing a red card to a black card or a red backed deck to a blue backed deck has nothing to do with race. The term is descriptive.
Such changes in language could go on ad infinitum and apply to every word that in any way references color - whitewash, blacksmith (which is based not on the color of the smith's face but the black color of iron) or anything that uses the color black such as the pips on cards (clubs and spades), the color of chess pieces or even checkers - none of which have an etymology based in race.
The problem is that at the end of the day, those changes accomplish nothing and could even be counterproductive. That is, eliminating every word that could potentially be misconstrued as offensive from the magic lexicon would not result in any appreciable change in the degree of racism or the level of racial barriers within magic (and definitely not in the rest of the world). However, it may make people feel better but that is in itself a problem. If people feel better about eliminating the racism in magic language, they will not be motivated to discuss any real issues or make any real changes. That is, the symbolic change will satisfy people's desire for change without effecting real change. As I'm often one to recommend old books, a great political theory book is The Symbolic Uses of Politics by Murray Edelman originally published in 1964.
My suggestion is to address barriers into magic by starting youth magic clubs in areas where there are financial barriers to learning magic. Donate your time or money. Work with schools, churches, and community organizations to teach magic. For me, the keys to magic are the keys to success in life - reading, thinking, being brave enough to be in front of a group of people and the resulting self-confidence. I'm all about reflective magic (magic reflecting reality) and I believe that if you can teach someone to do impossible magic, you can teach them that nothing is impossible in life. Rather than changing a word, you might change a life.