If you're really interested in how artists approach color and theory, you might pick up a copy of Kandinsky's Concerning the Spiritual in Art, which puts forth a modernist/Bauhaus color theory:

http://books.google.com/books?id=mG-VRWgfpuYC

http://en.wikipedia.org/wiki/Wassily_Kandinsky#Concerning_th...

Also, Josef Albers and his book Interaction of Color.

http://en.wikipedia.org/wiki/Josef_Albers

Thanks for the links. IMHO artists have tried for centuries to capture 'moods' with colour and they did a much better job that I could ever do.

Kandinsky's book is interesting even if what he is saying is mostly metaphorical. However, some of his observations were spot on as that of describing the case of the German patient with color synesthesia. http://en.wikipedia.org/wiki/Grapheme-color_synesthesia

Fascinating topic!