Do lights on wingtips change color at different times of the day? I have gone through this post which explained me why there are red lights turned on the plane but I doubt with the color code whether it's only during the environment specific conditions or its indication that it is relaying coordinates?

Every time one thing caught my attention during my flight journey. During the specific time of the day the lights on the wings changed with color.

On one flight it had a white constant blinking. This flight was during the day. The blinking was slow and repeated up to thrice.



On the second flight, there was a blinking green light along with the blinking white light. This blinking was fast so I couldn't get a clearer shot and this is during sunset.



Note:-In the above two images both are of the Airbus A320 Sharklet. I believe it has something to do with tracking and relaying the coordinates to the ATC.
Every plane has green and white lights on the right (starboard) wing, as in this photo, and red and white on the left (port) wing. These lights are called "navigation lights," and are the same as are used in boating. 

The green and red lights are always on, no matter what, and are used to help other aircraft know which direction the aircraft is going, based on whether the other pilot sees red, green or both lights. 

The white lights are also on all the time, and flash constantly. These lights are called "anti-collision lights."



(Image Source: Wikipedia)

What you are actually seeing is the green light constantly on, and the white flashing - but because the white is so much brighter and is flashing, it's more apparent than the green (which, especially in the day, is fairly dim)

At night, the green becomes more obvious and the flashing white becomes more visible. The flashing white over-powers the green, which gives an optical illusion that the Green is flashing. The reality is that the Green is always on, and the white is flashing.