The easy part was the
red and blue as #FF0000 and #0000FF, in case you missed that one.
And, the short answer of the "base" part was that a few years ago, a bunch of people became obsessed over an old, badly-translated Japanese videogame. The signature phrase from the introduction was "All your base are belong to us".
I, for one, laughed pretty hard when I saw this poem. But, I'm a geek.