I'm gonna chime in based on what my instructor at my make up course taught... plus my hubby is a photog. if i'm wrong, do pipe in =)
Basically, if you're going to be photographed, elements like lighting, composition, etc play a big part in whether the colours will show up. I'm sure many of the ladies here who swatch and photograph samples will tell you that you get one look if you use flash, and quite another in sunlight, cloudy, etc.
Plus, not all cameras are created equal. I can take a shot with my hubby's huge nikon D300s and it will look one way and my tiny Sony one will make it look quite something else.
Anyway, my instructor does photo shoots for magazines and she said that those ladies have all kinds of lighting, thick thick layering, photo editing etc all done so that the make up , especially if its for a cosmetics company, will look gorgeous.
For me, unless I'm doing a specifically filming or taking headshots, i favor looking normal rather than clownish. heck if the pictures don't show the bling bling, i rather not walk into the dinner looking like i lost a fight with my pot of eye shadow.
Its ok for me if the colours don't show up on photos because i know i don't have an entourage of photogs, light designers and post-production elves. haha.