Does the colour grey signal we're in Vecna's mind?

Sorry if this has been mentioned before but I just realized:

• Holly realizes the middle of the merry go round should be yellow but is grey instead
• The dial/lever is, as we all know by now, red in one scene and grey in the other. Is the scene where the lever is grey the 'fake' one happening in Vecna's mind?
• at graduation, Dustin wears a grey hellfire club shirt, while we've always seen those to be red + white

I have a feeling that all the scenes where there's a grey object that is red in another scene, it's a clue that the 'grey' scene is the fake one (if there's still any merit to this theory at all and we're not all going clinically insane)

are there other examples of grey objects that should be a different colour throughout s5?