It depends on whether you have silver-only images, or pyro-like stained image. If you have silver-only negs then a colour densitometer will work. Most channels should read about the same (maybe small differences in base density because of its colour), but there's no harm in using the blue channel for normal enlarging paper. The 'visual' channel is usually filtered to match the photopic (bright) spectral response of the eye, so it is green-ish.
There may be a choice between Status A and Status M for the colour channels. Status A is intended for materials that are for viewing (eg slides, motion picture prints) and Status M is meant to mimic colour material sensitivity, and it is used for negatives, interpositives, internegatives etc - stuff that isn't viewed. For B&W work it probably won't matter which blue channel you use, but it might as well be A.
If you have negs with an imagewise stain it will be more important to try to match the channel you use to read the density to the spectral sensitivity of the next step - so again the blue channel will be fine for graded paper.
I suggest that you give it a go, and see how much difference, or lack of difference, there is between the available channels. Find out how to calibrate it as well.
If you find out which densitometer it is, I'm sure that someone here will be familiar with it.
Best,
Helen