Nope. I'm partially colorblind myself. It DOES however, drastically decrease the number of MOS's available. Medical is out, anything technical is out (color coded parts, so they say), Combat Arms fluctuates. Sometimes they'll take you as 11b, sometimes not. They may have relaxed that during wartime. If you go active rather than Guard or Reserve, you'll have a wider range of MOS to choose from, and just make sure they don't railroad you into a job you don't want.
BTW, if it makes you feel any better, many guys with red/green color deficiency see blues and yellows more clearly than regular folks. Which means, as in my case, EXCELLENT night vision.