This is... not accurate. From here we get a list of colors and their corresponding wavelengths. Let's say we we wanted to go from yellow to green. We'll make our emitted wavelength 572nm and our observed 568nm. That's a very slight difference, but still noticable.
z = (568nm - 572nm)/(572nm) = -0.007
From z = v/c, we get that the relative velocity would have to be about 4,690,000 mph. 5,000 mph isn't doing squat.
actually, i looked it up and realized my fault. It's KM/Miles per SECOND not HOUR.
It's been about 10 years since my college phsyics courses, so naturally my memory of such things can be a bit rusty.
However, a new though occurs!
As we all know (hopefully), the speed of light is constant only in a vaccum. As it hits new mediums it speeds up and slows down. I'm willing to bet that if we slow time, we also slow the emitted light because its going to take longer to get places. As such, when exiting/entering the medium of the time bubble, it's going to cause the usual refraction. When light moves through different mediums, and as its speed changes, it would actually get refracted similar to light passing through a prism.
So thinking about this, i'm actually gonna have to change my vote to a "no" on redshift, and instead flip over to saying that its going to refract light like looking into a crystal.
What says everyone?
Edit: i wonder what the angle of refraction would be on a time-dilation bubble?