Lets take the 9 popular colour groups:
Red - this is the colour we pay most attention to and is associated with several emotions such as love, desire & passion. When using red colours in the decor of a home they should be used as accents or dramatically in rooms that are seldom lived in. If you are a passionate person then the bedroom would be ideal!!
Yellow - most of the emotions evoked by yellow can be classed as positive such as joy, happiness, optimism & hope. Because yellow is a warm colour it often gives the sense of cosiness and hospitality to a room, which is great for casual interiors such as a day room or conservatory.
Orange - being a combination of yellow and red, orange is a warm colour but not as vibrant as red and as calming as yellow. Orange is good for expressing energy and can emote enthusiasm and flamboyancy, by also stimulating conversation orange is a great colour for any living room.
White - often white is seen as a representation of purity, cleanliness and peace but when used in the home it can enhance, energise and beautifully contrast with any other colour. White is the most versatile of all colours being a combination of them all, because of it's reflective nature it gives a room a fresh, clean and airy feeling.
Pink - like red, pink is associated with love and desire but loses the raw passion red can induce. Romance is never far from this colour and always delivers feel good emotions.
Purple - as purple dye was initially made from the mucous gland of a snail it was only available to the very rich, hence representing royalty and notability. Nowadays, purple is still an exotic and mysterious colour sometimes being thought of as gloomy. Make sure if using purple to keep the tones rich and vibrant.
Green - often being referred to as the most favoured colour, green brings a calming influence to a room with some people giving it healing powers. Being a colour which represents the environment, green it is very much a colour of the moment.
Blue - you can't get much cooler than blue, which represents peace, tranquillity & calm. Cool colours are seen as dignified and conservative so are more suitable for formal rooms. Blue is also considered a business colour as it reflects reliability.
Black - along with red, black is a very powerful colour bringing out strong emotions such as power, sexuality, sophistication, elegance and wealth. Again like red black should not be used in a dramatic sense but just to accent other colours.
Just remember, paint is only the first step to deciding colour of a room. The next steps are layers of colour with accessories such as upholstery, fabrics, rugs, curtains, loose sofa covers, lighting and plants etc...