Lasers are already used for inter-satellite communications, so there's no need to just use gross color shifting (though perhaps the BOM impact would be less).

Related side story: my resume had something about PKI in it so I kept getting calls from Boeing recruiters trying to fit me into a job doing said satellite laser comms (presumably using PKI). I kept telling them I knew nothing optics-related aside from basic Newtonian stuff, and they kept calling me back. I hope they finally found someone.