I can't remember when I heard about color helps bees ID their hive but I did hear bees know the exact location of their hive so much so if you move the hive 4 feet away the bees will fly back to the old location, realize it's 4 feet away and then fly over to the hive but the bees will continue to do this same behavior of flying back to the old hive location and then fly 4 feet over to where it is now for about 3 weeks (When those older bees start to die).

So does color even matter? If I painted a RED CIRCLE on one hive and a BLUE SQUARE on a different hive 1 foot away (Everything else looks the same), is there any good in marking the hives like this?