There are a lot of theories on dreams and having never taken psychology in college - I did try - I can only give my views.
Yes, I have had recurring dreams many times, sometimes the same dream and ending, and at other times the same place but a different dream.
The latest dreams of mine are worrying because to me they show a declining mental ability.
The dream has evolved from not being able to recall my timetable to not being able to recall my name, or where I am.
As far as I am aware, I do dream in colour or this could be a case of recognising items in the dreams and associating their shape with colours in life.