Johannes Itten, of the Bauhaus, is the go to guy for colour theory, both these books are fantastic:

The Art of Color: The Subjective Experience and Objective Rationale of Color

http://www.amazon.com/Art-Color-Subjective-Experience-Object...

The Elements of Color: A Treatise on the Color System of Johannes Itten Based on His Book the Art of Color

http://www.amazon.com/Elements-Color-Treatise-System-Johanne...

A single colour rarely has much of an impact on your mood. Its contrast that matters.

(Read: http://www.psy.ritsumei.ac.jp/~akitaoka/shikisai2005.html)

So when an article lists all the colours along with the emotions they represent and says things like that red is associated with excitement, strength, sex, passion, speed, danger - it raises my BS signal.

It means they're copying some pseudo science article they read in a fun coffee table magazine once.

If you're really interested in colours and colour psychology, let me recommend:

Website: Color Matters http://www.colormatters.com/entercolormatters.html

Book: The Art of Color by Johannes Itten http://www.amazon.com/Art-Color-Subjective-Experience-Object...