Yes it is the zooxanthellae symbiotic algae gives the anemone its color. The algae is beneficial there for more color the better. Often when a anemone is shipped it loses its algae but when you supply it with adequit lighting it regrows it's algae and is overall a healthier animal. Check out this site: www.aqua.org/animals/species/pranem.html
I have made the move to keeping an anemone, and have a lfs that has very healthy selections. The one I picked out was pretty brown, and had hints of pink and green in the tips. Now for my question, does color in bubble tips change, and what variables decide the amount of color displayed? I have read that its the algae in the anemone that holds the pigment? Know of any good reading material on anemones?
Sprung and Delbeek's "The Reef Aquarium', volume two has a lot of good info on anemones and their care. Glad to hear someone looking for reading material. Give it quality lighting and good care, and it will retain it's color.