Answer:
If you look at light penetration in deep water (or stained/dirty water) you would think that color would have very little difference. But, in my experience color still does play a role in lure selection even in deep water. I think the thing to remember is that walleyes not only see better than us but also differently. What we see is not what a walleye necessarily sees. That said, I do not think color is as important is low light conditions as say the bulkiness (which displaces water) or the sounds that emanate from a jig (rattles, grub tails, etc).