Do The Colors We Wear Speak Of Who We Really Are?

Absolutely, especially for females.  Black is dominant, pastels are passive or shy, brights are happy.  This a generalization, because we wear different colors most of the time.  Colors we like.  For instance, I would not ever wear pink, am not too fond of olive green either.  I love black, orange, red, yellow.  Would never wear patterns, like a flowered shirt.  Your mood can be influenced by what you wear.  If you feel puny in the morning, wear a bright color you like to enhance your day.  Do not wear an outfit that you don't like.  
For men, it is harder to say.  If they wear a suit, then black and dark blue are the most prominent, and they have a few choices in shirt and tie color.  Brown seems to exude less confidence.  If they are the t-shirt & jeans type, then they have a few favorite t-shirts they will save for special occasions, like a party , but if they are going to work, they will probably get the one on top of the stack in the drawer.  If they have a woman in the house, they will have a stack in the drawer.  If there is no woman in his life, he'll grab the one off the top of the laundry basket....as long as it they clean laundry we hope.
As a rule, if one wears a lot of the same color all the time, then it is definitely a reflection of their personality.  My sister in law wears beige, light yellow, beige, white, beige, off white, beige, and beige.  She is a sweetheart, but rarely says what she is really thinking.

I think the colors we wear could be a resemblance to our feelings