According to Jeffrey Marsh, the wine at Passover is red in color, like the blood of the firstborn lambs (Exodus 12:5,12) without blemish (Exodus 12:5) and without any broken bones (Exodus 12:46) that was smeared on the doorposts at the first Passover, and subsequently at the temple in Jerusalem at each annual Passover celebration. The lambs blood reminds us of the blood Christ shed to redeem us and save us from death: "And he took the cup, and gave thanks, and gave it to them, saying, Drink ye all of it. For this is in remembrance of my blood . . . which is shed for as many as shall believe on my name, for the remission of their sins" (JST Matthew 26:23-24).
Interestingly, Alfred Edersheim writes that according to Jewish tradition, "Red wine alone was to be used at the Pashal Supper, and always mixed with water" (The Temple, p. 237). He notes "Indeed, [a] quotation from the Mishnah (Pes. vii. 13) might even induce one to believe that warm water was mixed with the wine." (pp. 237-238) This leads to some interesting parallels.
The Atonement was accomplished at a couple of locations (in the garden of Gethsemane on the Mount of Olives and on the cross at Golgotha) before Christ's body was laid in the tomb, and at each location we find actions behind the symbolism of the wine mixed with water. From both the Bible and the Book of Mormon we find testimony to the fact that while in the garden of Gethsemane, in the heat of great suffering, Jesus' "sweat was as it were great drops of blood" (Luke 22:44) insomuch that "blood cometh from every pore" (Mosiah 3:7). Furthermore at Golgotha, as the evening approached, the soldiers went about to finish the job of death so that "the bodies should not remain upon the cross on the sabbath day" which began at sunset (John 19:31). The usual practice was to break the legs of those hanging on the cross because they could no longer gasp for air by standing on the nail driven through their feet. Thus the soldiers broke the legs of the two thieves, but "when they came to Jesus, and saw that he was dead already, they brake not his legs" (John 19:33-- see also Psalm 34:20) Rather, one of the soldiers, observing that Jesus was already dead, pierced his side with a spear, "and forthwith came there out blood and water" (John 19:34).
It is also worth noting that Elder James E. Talmage has written that the "blood and water" indicated that the Savior's heart had burst (Jesus the Christ., 668-69; John 19:34). Thus Jesus died of a broken heart (and a contrite spirit), having totally submitted to do all the will of his Father. As the old adorns the new, it is interesting that when the Savior appeared to the Nephites on the American continent after his resurrection, he stated the following:
And ye shall offer up unto me no more the shedding of blood; yea, your sacrifices and your burnt offerings shall be done away, for I will accept none of your sacrifices and your burnt offerings. And ye shall offer for a sacrifice unto me a broken heart and a contrite spirit. And whoso cometh unto me with a broken heart and a contrite spirit, him will I baptize with fire and with the Holy Ghost. (3 Nephi 9:19-20)
[Adapted from W. Jeffrey Marsh, His Final Hours, pp. 36,82] [See the commentary on Alma 7:14]