Reading boolean values from file always return "True" from bge import logic
path = logic.expandPath("//")

def save():
    cont = logic.getCurrentController()
    own = cont.owner 
    # 'info' is what will be saved to the file.
    # Example:
    # info = str(*What you want to save*)

    info = str(own['pink'])+","+str(own['red'])

    file = open(path+str(own)+".txt", 'w')    
    file.write(str(info))


def load():
    cont = logic.getCurrentController()
    own = cont.owner

    file = open(path+str(own)+'.txt','r')
    line = file.readline().replace('\n','').split(',')
    own['pink'] = bool(line[0])
    own['red'] = bool(line[1])
instead of casting to a boolean you can use them in an expression:

file = open(path+str(own)+'.txt','r')
line = file.readline().split(',')
own['pink'] = line[0] == "True"
own['red']  = line[1] == "True"