When your eyes have are applied to photopic vision (day vision) like when you are indoors in a very enlighted room, the red will be much more visible because then the eye is most sensitive to 555nm, and 650 is much closer to that than 405. So then, the blu-ray beam will almost be invisible to your eye. But if you will go into a very dark room and be there for some while, your eyes will adapt to scotopic vision (night vision). Then, your eyes are the most sensitive to (at least I think it is) 505nm, which is much closer to the blu-ray wavelenth, than the red one. So it depends if your eyes is adaped to photopic vision or scotopic.
So go to a dark place at night and be there a while to let your eyes adapt, and then fire up your 120mw blu-ray and reds into the sky. The blu-ray will be much brighter than the red.