I've seen responses in deer that makes me believe the deer see blaze orange. On the other hand, I've had deer walk right up to me during rifle season when I'm covered in blaze orange and hunting on the ground. They don't seem to notice it until they're within ten yards. At that point they'd probably notice me if I were wearing camo.
If you wash/spray UV killer on your blaze orange it becomes less visible to humans at a distance too. Especially in low light conditions. I know, I've tried it.
You're still legal, but it takes away some of the 'safety' of the blaze orange.