When I run any combination of NetScape 2.02/3.0b4 for BSD386/Linux on a
  NetBSD 1.1 release box, the colors come out all wrong - all the reds are
  pure blue

I have the same problem.  Some other apps do the same thing, including an
older version of xv (haven't tried a newer version).  I'm using the 3.1.2E
Mach64 version of XF86.  However, this is only a problem in 16 bit mode.  In
8 bit mode all is well.

Another annoying problem with Netscape is that I only get 16 colors on an 8
bit screen.  Is there some way to fix this?