I like a red lure the most in the spring.  I just have more confidence in it then.  My go to spring cranks are all red based. Ive just normally had the best results with them. In the fall i prefer a white or light colored crank. I even have a couple red spinnnerbaits that are effective at times depending on water color. 

For spots chartreuse is my go to color year round. 

I'm not convinced on the hype about red hooks, but I've caught basically every bass in my pond by using a Red Shad trickworm. 

I am with northflorida, Watermelon red for me has produced in everything from dark rivers, greenish water to gin clear. It does seem to be more consistent than plain watermelon so the red does add something that gets it bit everywhere. Definately a confidence color for me.