I was snorkling with my father one time near the boyton beach inlet and we swam up on a small school of squid, probably 15-20. It was the coolest thing, from a distance we watched as they kind of played with each other while changing colors very rapidly. Yellow and reds, greens and blues, these squid were the most beautiful things I have seen while diving. As we got a little closer the school noticed us, instantly they all turned that dark redish brown, sank down to the bottom hauled butt away from us. There are many videos online of squid changing colors. From my experience they turn that dark redish brown color when they are spooked and trying to get away from something. I would go with that color for a lure.