Since there are multiple different Lantern Corps of almost the same color these days they should be more specific with their names. Obviously, there are two general categories of Lantern Corps: the "Monochromatic Corps" and "Polychromatic Corps" but, beyond that, we need NUMERICAL descriptors in order to avoid ambiguities and confusion.
The various Monochromatic Corps i.e. Pure Spectral Color Corps should be named after the wavelength of their specific color. For example, "The 632.8 nm Corps" (colloquially, "The Helium-Neon Laser Corps"😉 would represent a particular type of Red Lantern Corps.
Polychromatic Corps i.e. Multicolored Corps would be best specified with the color temperature of their color (if applicable), e.g. "The 6000 Kelvin Corps" i.e. "Sunlight Corps" would be a particular type of White Lantern Corps.
This would also make the extensions outside the visible spectrum trivial. One could very easily introduce e.g. the "10 cm Corps" (the "Unimpressively-sized Corps"😉 and "1,000,000 Kelvin Corps" (the "Corps 1M"😉.