I am colour blind. It's basically red/green colour blindness but it extends to related colours such as brown and beige, and things that others tell me are mauve or purple generally look blue to me. So I think it's more than "slight" or "mild". I've just used an on-line test of eight circles and could not make out the numbers in any of them.
On the road I'm OK. I distinguish between red and amber on traffic lights because red is always at the top and it is darker than the amber in the middle. They are both different from the light at the bottom, which when I was much younger (65+ years ago) looked bluish to me, whereas today's LED lights look almost white.
I remember driving in Athens many years ago, where they had a very different sort of green which was much closer than the amber colour, so I had to rely more than here on its position. There are some countries that have a single light with a rotating lens, and I can find it difficult to know whether it's showing amber or red. I depend on my wife to advise me.
If I was driving a train I'd be OK with double yellows, because that's the only aspect where two lights show simultaneously. I wouldn't be confident about whether a light a mile ahead was showing single yellow or red. As I got closer I could probably decide accurately which one it was, but slowing the train in order to be able to stop if I concluded that it was red wouldn't help the public performance figures. I'd probably be all right with the greens....
If I was a member of the platform staff, I'd read the OFF and ON signs and if they are different colours (I've just started to wonder whether they are) that wouldn't matter. I might have more of a problem with platform repeater signals, but I'd probably get used to how the signals on the platforms I worked on looked, so not a great many trains would get despatched, or held back, while I worked out what aspect was being shown, or when I got it wrong.
However, these jobs depend on the people doing them knowing what's what exactly and immediately. I could probably be a guard and passed to drive a train in an emergency, since in that situation it would be acceptable to drive cautiously. But I have to accept that if I want to embark on a new career in my mid-seventies, train driving is not going to be it.