The test is intended to pass because the luminosity contrast ratio between foreground text colour/background colour and foreground text colour/background text colour is higher than 5.
The formula to be used for calculating the luminosity contrast ratio can be found at http://www.w3.org/TR/2006/WD-WCAG20-20060427/appendixA.html#luminosity-contrastdef.
The foreground and background colours have enough contrast.
The luminosity contrast ratio between foreground and background text colour is 7.50, between foreground text and background colour 15.60.
It is not clear if there is sufficient colour contrast for some people with low vision.
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