Not really. I used to use gold Stren while my dad used the fluorescent blue. One day, he was getting all the bites and I wasn't getting any. I asked him for a few feet of his line and tied in on as a leader and I started getting them too. Don't know why they didn't like the gold that one day, but they still didn't mind the hi-viz blue. I can't really recall any other time in a couple hundred other bream fishing trips where there was any real difference when we used different color lines. I stopped using the gold after that, but it was only that one day where I ever saw it make a difference, and it could have been just a bad stretch that had nothing to do with the line color for all I know. Just for information, both of us were using 4 lb. test Stren.
When I use a drop shot rig I usually keep the slack out of the line and set the hook (really just lift the rod) as soon as I feel one. I was a die hard line watcher when I used to bass fish, but with bream I keep enough tension on the line to feel the bite and don't even mind if I'm dragging the rig a little as long as it stays in contact with the bottom.