Ok, we'll focus on that particular form of the same word.
"1: bloodred
2a: consisting of or relating to blood
b: bloodthirsty, sanguinary
c of the complexion: ruddy
3: having blood as the predominating bodily humor; also: having the bodily conformation and temperament held characteristic of such predominance and marked by sturdiness, high color, and cheerfulness
4: confident, optimistic"
That is as an adjective. As a noun;
"a moderate to strong red"
By definition 2b of the adjective form, another word for vampires would be sanguinarian, implying that they are sanguinary. If "sanguin" were a proper term, "sanguinarian" would be considered such as well, even if not by you, because of the word "sanguinary" being so similar. Thus why it is called an improper term and any individual who took the time to look up what he/she were saying would know that.
Breaking all connection to the word sanguinarian, look at definitions 1, 2c, 3, and 4. None of those relate specifically to vampires, to my knowledge. The only possibly accurate definition of the word is 2a, and since Blood vampires do not consist of just blood we would have to say they relate to blood. Considering all this, don't you think it's simpler just to say "blood"?
Psi vampires are called "psi" vampires because they get their fix by using psi.
Blood vampires are called "blood" vampires because they get their fix by consuming(using) blood.
Specific definitions entirely set aside, this is now simply common sense.
Unfortunately, since vampires are not acknowledged as facts, but rather as a belief, there is no "officially correct" term. However, there are many terms that can be used and considered insulting, I refer to them as improper. Mosquito, leech, bloodsucker, undead(both insulting and inaccurate), immortal(due to inaccuracy) and sanguine/sanguinarian/sanguinarious are all among those terms.
Sadly, I probably won't be able to continue this discussion. I'll be logging in once more then it'll be two months(due to boot camp for the National Guard) before I have the chance to log in again and I'll most likely spend that two weeks with family. Then another four months for job training and after that I should be free to continue this discussion. When I log in that last time before leaving, it will only be to give my coven some idea of the timeline in which things will happen. I'm posting this for everyone's info, the information is not meant for anyone in particular.