Technically, the color has always indicated the opposite of the expected default.
Passive indicators on switches like this historically have used the color to signify when something is disabled, because normally you expect that thing to be enabled. Look back to old devices with mute and disable switches like the old iPhones, Palm devices, etc. and the color always signified the thing being disabled. The default state is enabled, and the switch is disabling it.
Active indicators like LEDs being used on devices to indicate things like the mic or cam being on are generally newer. But even going back to things like the red recording lights, that's because the expected default state was off, and the indicator was showing it was in a secondary state.
The color in both cases indicates the thing being controlled is in a secondary state, but the expected default state is different in the two scenarios.