I just watched another episode of Modern Family, and the characters in it imply that "sanguine" is not a commonly used word in a daily setting. 

According to the dictionary, sanguine is an adjective which means "optimistic or positive, especially in an apparently bad or difficult situation". e.g. "He is sanguine about prospects of the global economy". It seems to me that it's usually used in a formal or professional context? 

By the way, could sanguine still mean a ruddy complexion/an optimistic disposition, or is this meaning archaic? 

Thanks in advance.