Probably same as Aura:
I think I know what to do and how to do it (first 6 lines).
But so far, the first two paragraphs of the poem do not give me anything useful and there are at least 2 different ways to read it (red or blue). I don't have the time to write all the options out.
Not sure if we should do something with the number of letters skipped at the beginning or end of each line before/after the colouring.
So I think I'll just wait for someone else to give the answer. :-)
EDIT: what I have for the first 2 alinea's:
GB AHFR GO THIERLOG RR GIT ER I
Edited 7/8/2020 13:50:22