I have 6 yellow twig I grew from cuttings. Deer seem to nip it just like the other dogwoods. They are caged and all limbs that go through the cage are nipped off.
It is the same plant, just a different color variation. I doubt there is any difference. John sent me a few free scions years ago when I ordered some rootmaker containers from him. I started them indoors under lights and planted them around the yard for landscaping since my wife liked them. I'm in the burbs and they are one of the first shrubs deer hit in our yard. I had to fence them temporarily when they were establishing.
I know they are supposed to be the same as red osier, but for some reason I have had much better success with the yellow cuttings compared to the red. I haven't transplanted any yet to see how the deer like them. I'm sure they will destroy them.