This is really very interesting indeed. Here's an excerpt from a little article I found on color meditation:
Pay attention to your breathing. Take a deep breath and release it slowly. Take another deep breath, release. Again, deep breath...release.There's more. Recommended!
Now begin to focus on the color red. Let red fill your mind. Picture bright ripe red tomatoes...a male cardinal...a red rose.
Breathe in the color red. Let it fill your body. Feel the strength the red energies are bringing to your body. Exhale. Breathe in red again, filling you with courage. Let your breath out.
Take another deep breath. Let it out. Now, breathe in the color orange. Think of a large, juicy orange...flames dancing in a fire...the sunset.
Fill your mind with orange. As you continue to breathe in the orange energies, feel your confidence build with the power of orange.
I would imagine that doing this sort of meditation regularly would help us be more mindful and appreciative of colors we notice all around us in the material world.