Not really. Favourite colours have to do more with social and cultural features than your ability to finely distinguish between different shades of said colour. I strongly believe that the proper phrasing for the results should not be "blue is the favorite color of most people" but rather "blue is the favourite colour of most White North Americans/Western Europeans".

I bet if this was done in China, it would be more heavily weighted towards red, and if done in ancient Phenoncia, it would probably be purple.