Damn, Justin beat me to it.
Nothing further to add, your honor.
Seriously now, magic is energy to me.
Color is a purely human concept, it's our brain's interpretation of different light frequencies. Energy or magic also has a wide variety of frequencies in my opinion, though it doesn't really emit light. However some people can still differentiate between frequencies just like we can differentiate between colors. I even think that our brains place colors onto the frequency differences to make the whole concept easier to understand, in which case the color tags would be highly subjective indeed .. so you could say, yes. Magic has color but what color depends on the specific use(r).
