You can define your own action environment or redefine the alert action.
\documentclass{beamer}
% defining new action environment
\newenvironment{checkenv}{\only{\setbeamercolor{itemize item}{fg=green}}}{}
% redefining alert action
\renewenvironment{alertenv}{\only{\setbeamercolor{itemize item}{fg=red}}}{}
\begin{document}
\begin{frame}{Items}
\begin{itemize}[<+->]
\item A
\item<+-| check@+-> B
\item<+-| alert@+-> CCCCC
\item D
\end{itemize}
\end{frame}
\end{document}

Edit: as suggested by samcarter
Simply redefining the alert action as shown above will basically disable the \alert command. With the etoolbox package \AtBeginEnvironment can be used to only change it for the itemize environment. But of course, \alert won't work inside the environment.
\documentclass{beamer}
\usepackage{etoolbox}% not necessary with up-to-date beamer versions
% defining new action environment
\newenvironment{checkenv}{\only{\setbeamercolor{itemize item}{fg=green}}}{}
% redefining alert action only for itemize
\AtBeginEnvironment{itemize}{%
\renewenvironment{alertenv}{\only{\setbeamercolor{itemize item}{fg=red}}}{}}
\begin{document}
\begin{frame}{Items}
Alert working outside itemize, \alert{before}
\begin{itemize}[<+->]
\item A alert \alert{not working} inside itemize
\item<+-| check@+-> B
\item<+-| alert@+-> CCCCC
\item D
\end{itemize}
and \alert{after} it.
\end{frame}
\end{document}

\item<+-| alert@+-> \textcolor{black}{CCCCC}would do. – Steven B. Segletes Aug 30 '17 at 14:35\color{black}CCCCCmight be a workaround. – samcarter_is_at_topanswers.xyz Aug 30 '17 at 14:35\color{black}is what I am currently using as a workaround. Of course, an automatic solution would be desirable. – AlexG Aug 30 '17 at 14:54