Red or Navy? Both?

On Saturday I'll be leading a group knitting Carol Anderson's Babies and Bears jacket at Janie H. Knits in Perth, ON. I made one last fall that looks like this.

This is a really fun sideways knit that has versions that also fit babies and teddy bears. What's more, it's a tremendously useful garment. How often is something fun and useful?
I used the word "leading" because I'm reluctant to say I'm "teaching" a series of three classes on this garment. Carol's little booklet is so beautifully written with accompanying illustrations that there's little to add. However, I'll talk about yarn choices, how to choose a size, some little tricks of a technical nature, and options for customizing the jacket. Already, I'm thinking about making cuffs with buttons, slimmer forearms, a collar, and I-cord trim and buttonholes.
But first things first. I have to make a yarn choice. Here's what I'm debating.

First up, Briggs and Little's Tuffy in a gorgeous blue red. Despite the name (the yarn has a touch of nylon added), this is a relatively soft yarn, especially when knit at the slightly loose gauge of 4 sts per inch. You can see I'm already sampling buttons from my collection. The antiqued brass at the lower right is calling to me.
Next, I'm considering this rich navy blue from Peace Fleece. The photo doesn't pick up the many hues embedded in the wool.

I really love the navy with these moose buttons (yes, you read that right!)

Then, there's the third option, red with navy, or navy with red. Help!