But the LED is a bi polar LED with 3 legs for blue, yellow and ground.
If it has three legs it is not a bipolar LED.
the schematic diagram I did was done in a program that only had a one Colour LED.
So what you should do is to use two symbols and put a note on the diagram.
NOTE: The schematic doesn't show the two legs for the Blue and Yellow on the LED, so just imagine they are their.
My imagination has a hard time deciding if they are common anode or common cathode LEDs and if so where the missing wires actually go.
As drawn the diagram is a nonsense, so I will use my imagination and say yes it is perfectly fine.
Please note the quality of an answer is only as good as the quality of a question.