This is a great topic. I find it important not just to look at magick correspondences to colors but also the psychological aspect of each. You gain a greater understanding of color and it's effects. Many times they coincide, but offer different perspectives. Color psychology is used often in advertising, in stores, hospitals, schools, doctor offices and the like. This is no coincidence. Color really does have a psychological effect on our mind and emotions and this should be considered just as equally as the magickal properties of color. They're now using special light in produce departments to make the fruit look more vibrant! I carry my chosen produce into another area of the store and re-evaluate it because it is very deceiving! People will go to a store or restaurants with vibrant colored foods because it gives them the idea that the food is more appetizing or fresh. The psychology of color is such a huge part of our daily lives and many do not realize it. I definitely suggest that anyone getting involved in magick read as much as they can about color to understand how to use it in ritual, at home, in their clothing choices, etc to provoke the emotions and mindframe they most desire.
Not everyone has the ability to paint their walls a different color or change their ugly carpets. But there are other ways, such as adding art to your walls, using bedding, blanket throws, throw rugs, table clothes, seat covers, etc.
Do not use too many colors, but instead stick with different hues of the same color, or pick two compliments. My bedroom, for example, has blues and purples predominant.