I think MLK would have been more interested in a pro-worker black President. That's why people were trying to red-bait him, because he was more pro-worker Left than either Republicans or Democrats. I don't think Barack Obama would have been close enough to that, being a DLC member. And he didn't like wars much either, so the Drone President wouldn't have faired much better with him.
I'd have hoped if he'd lived he'd have become President himself and set up a true Left path for Democrats or his own party, who workers of all races might have supported.