Just to add some more.
I agree with Jeens suggestion that lures catch more fishermen than fish. As far as colour goes I have found that iridescent lures work better as they reflect light like a baitfish would.
My favourite colours are Yellow/Greens and Red/White.
I must relate an incident with a red/white lure, I was fishing with a Yo-Zuri Red/White Alle Magnet lure a the fish were going crazy, I had take 3 fish in 10 casts, the 4th one took the lure down a hole. I then took out a SureCatch lure that was identical in colour, size, weight and dynamics or so I presumed…
Believe it or not, for the next half hour or so nothing happened, I checked the action of the lure in the water, all was fine, still nothing, from the hot crazy action I was having to nothing. I changed the lure to a Gold Black, nothing then I changed back a Red-White lure Yo-Zuri exactly like the one I lost, and first cast landed a fish and the action was hot again.
I would not believe this story if it had not happened to me.
On my last trip, I hooked into a large Mangrove Jack that ran with my Red/White lure around some rocks and cut through 80lb leader and got away, I put another lure identical in all ways and nothing happened for the next 40 minutes or so, the moment I changed to a blue/mauve lure slightly different in shape, it was taken on the first cast, this time I landed the bugger.