Black Heart,
Your hitting dust particles in the air, you can't see any wavelength light without reflection. If you took that laser into free space or a vacuum, you would never see it.
Green lasers have a wavelenght of about 532nm, the peak sensitivity of the human eye happens to be close to that at 555nm.
So yes, to a person a green laser would appear about 4-5x brighter than a red unit (for a laser diode). So a 5mW green laser could be equivelant to a 150mW red laser.
The technology to lase this wavelength is more expensive and more complicated. Beware that some green units are not CW (constant wavelength or always on) type and are pulsed at a low frequency, I don't think you would see one of them in a weapon site application.
Also, I think the power consumption on green laser is typically greater, especially for the CW types.
On a side note:
I have tried laser sights on bows, rifles, and handguns, I never found an added advantage in them.
I can't shoot more precise or accurately with a laser sight. My reaction time is slower with a laser. They are very limited in usage to what environment you are in. IMHO I think they are a novelty when it comes to using them for human sighted small arms.