The word "green" doesn't even show on the investopedia page I linked, and especially no distinction is made between being in the green vs in the black like you have asserted.
i probably messed up.. Its not on investopedia...
From an accounting perspective, your income statement shows whether a business is in the green, black or red. Green means you have an operating profit, black means you are around break-even and red means you don't have enough revenue to meet operating expenses.
You get this from other sites, but those are not very solid references.
let me try to find the reference.. i probably got it from other page and messed up.. let me look into my recent pages.