Just so happens I have been thinking of this exact same color scheme for a little side project of Altdorf Fantasy troops.
GW sells their paints as "triads" meaning you have a base color, then two layers which are lighter versions of that color you can use for highlighting edges etc.
If you were to stick to their classic triads, You can go for Macragge Blue and its highlights Altdorf Guard Blue and Calgar Blue.
http://www.games-workshop.com/en-US/Ultramarines-Paint-Drop
For the red, Use Mephiston Red and its Highlights, Evil Suns Scarlet and Wild Rider Red.
The picture you posted above looks much closer to Wazdakka Red however, so that is your call.
http://www.games-workshop.com/en-US/Blood-Angels-Paint-Drop
I'm not saying you need the whole bundle, just have a look at what is meant to look good together. The blue bundle was use to paint the Ultramrines on the site. The Mephiton Bundle was used in the Blood angels. The Wazdakka red is mostly used on Chaos/Krorne uunits. Take a look at the site and decide which looks best for you.
When it comes to shading, I would use diluted Nuln Oil wash for both. This will create realistic shadows, AND make the armor look uniform.
Me personally; I think that the really primary and saturated colors look a little gaudy. This is why I try to use darker/or less saturated versions of the reds/blues. For my Altdorf troop I will be using Thunderhawk Blue and Wazdakka Red personally.
Hope this helps, Cheers!