I'm actually a bit doubtful about the link between green and the fairies as an explanation for the ill luck association. It certainly doesn't apply to Welsh fairies, anyway. The only colour specifically mentioned with regard to fairy clothing in the Welsh folklore books I have is red, which is the colour of the coats worn by fairy men. Like
And, just to offer a counter-example to
I think the real problem here is that customs are often regional, so it's not possible to say that any given meaning is widely understood.
For what it's worth, I love green. I'm actually wearing a green top right now. When I was young, it used to be very difficult to find green clothes because it was considered an unlucky colour in the North West of England. It's not a problem now, though it often isn't called "green" but "forest", "parrot", "olive", "bright meadow" or "leaf". I have no idea whether this is anything to do with the stigma attached to green or whether it's just the marketing department getting creative. *g*
Just off to Land's End to order a "golden olive" skirt...