For the glowing, just take the blue into photoshop and increase the red on a shade of blue until you like the result then try to find the closest match with the Colecovision's palette.
In this specific case, there are two problems:
1) The red color glows smoothly, which the CV cannot do.
2) The TMS9928 doesn't have programmable color palettes, so the only way to change colors is to rewrite the color table, which is very CPU intensive, mainly for large objects like the Arkanoid ship.
From my CPU performance meter, I can see that changing the color table would require more than a single frame, reducing the smoothness of the animation. So I am considering leaving it as it is, or maybe creating a different animation to give the idea of "ship on fire". Or perhaps I could change the color table in more than a frame... But anyway, I am afraid that having less colors to work with will result on an animation that looks more like the ship is flashing on red alert than it is on fire.