Thank you again for the helpful comments. I went to a local town and shot traffic lights from -0.7 EV to - 5.0 EV. There's no question that the yellow shifts to a reddish color at the expense of underexposure.
I also looked at some of Ming Thein's street shots at night and his camera also registers red traffic lights as yellow.
I'm kind of surprised. As I understand it, matrix metering is driven by thousands of metered scenes that Nikon feels contribute to proper exposure. I guess there is nothing in that digital information related to red traffic lights that makes them appear in true color without creating severe underexposure. Perhaps I'm misunderstanding the technology.