Husker fans call it the "Surrender Whites".
Traditionally Nebraska has worn red pants with the road uniform since the mid-1960s.
During Tom Osborne's entire career, they wore all-white uniforms only four times, once for the 1991 Citrus Bowl against Georgia Tech (tied for most points an Osborne-coached team allowed in a game), and then they experimented with the look again during the 1992 season, wearing them three times, losing twice. The third one is the most ignominious, as it came against an Iowa State team that finished 4-7. It was arguably the worst team Osborne ever lost to in his entire career. Two weeks later against Oklahoma, the red pants came back and the Huskers won 33-9.
If you ever have a conversation with a Nebraska fan about all-white uniforms, this game will almost inevitably come up.
Nebraska didn't wear the combination again during Osborne's career.... and you could say the next few years went okay.
Then in 2002 this happened:
This was the 7-7 season which is the one that broke the 9+ win streak and was the really the most tangible evidence that the program was in decline. So these were scapegoated heavily and thrown onto the trash heap. In 2003 they reverted back to the "normal" uniform and went 10-3.
Then during the god-awful Bill Callahan area and various times afterward, Nebraska started doing it again. Another shameful episode was the last game of the 2007 season when they gave up 65 points to Colorado, which ended up being Callahan's pink slip. They also tried it a few times in the Riley era, most recently in the Music City Bowl a couple of years ago where they were hammered by Tennessee (who wore god-awful monochrome gray outfits).
I believe Nebraska's overall record in the "traditional" all-white uniform (counting 2002 but not the alternates) is something like 4-13 overall since the red pants were first introduced in the 60s. So Nebraska's poor overall record in those (as well as a couple of infamously embarrassing performances in them) has contributed to this culture.
Many will also say monochrome red is cursed. It was only done one time, against Oklahoma in 1986, and the result was a blown 4th quarter lead when Oklahoma scored twice in the last 90 seconds. They never did this again:
Since Nebraska has more or less sucked the last 15 years after being elite for a generation, along with the recent tradition of adding a (usually terrible) alternate uniform, a lot of that talk has kind of subsided a bit. One could argue that this abomination was successful since they actually won (and to date it is our only win over Wisconsin since joining the Big 10).