There is one surefire way to determine the best course of action, but it will probably never happen.
When the next Green Server comes, put faster raid respawns on it. Roll the old Green characters into Blue and keep the normal raid respawn timers on Blue.
Then we have two servers, one with normal raid respawn timers and one with faster raid respawn timers. Then we will see which server ends up with more players at the end of the next Green server, and we don't lose existing players because you can still play Blue.
Based on the current data (TLP vs P99), I think the normal raid respawn timers will win. But you never know.
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