Is there something special that needs to be done to overwrite a binary prefix using the siunitx package? Overriding the SI prefixes is no problem. The MWE with \sisetup{binary-units=true} yields:
but with \sisetup{binary-units=false} I obtain:
Note that I was able to easily redefine \kilo, but am unable to redefine \bit:
Reference:
MWE:
\documentclass{article}
\usepackage{siunitx}
\usepackage{xcolor}
%% https://tex.stackexchange.com/questions/88848/how-do-i-typeset-units-like-mb-gb-megabytes-gigabytes
\sisetup{binary-units=true}%
\DeclareSIUnit\bit{\textcolor{red}{bit}}%
\DeclareSIUnit\kilo{\textcolor{red}{k}}%
\begin{document}
\si{\bit}
\si{\kilo}
\end{document}

