Put lines out of sunlight when not in use
The past several years I've used what I'd call a sacrificial line to enable me to get the halyards out of the sunlight.
In the past I used to attach the shackle to something on deck which leaves some 50-feet or more of halyard line exposed to the elements and sunlight.
Lately, I attach a 5/16" three-strand dacron line to the halyard shackle (main or jib and spinaker) and hoist the halyard with shackle and line to the top of the mast then secure the dacron line to something like the pulpit or pushpit. This way the halyards are protected.
The next step is to find a way to protect the lines from the base of the mast to the cockpit but I'm almost there.
UV degradation: Black should be one the best for UV protection and red tends to really lose it's color. That is one reason many fire trucks are painted white or yellow rather than red because that color is one of the most prone to fading.
This doesn't mean to say one can't see black loose it's blackness over time - it does - but note that degration isn't necessarily measured by color visual change.
There is a product made by 303 Products (either Fabric Guard or Aerospace Protectant), the company that makes spray on repellant for Sunbrella, that they say can be used on certain plastics, including line, in order to slow down the UV degradation process.
Their web site:
http://www.303products.com/shop303/index.cfm I'm sure they could clue one in on which is the best for protecting color.