To discover more about how the sensors work, AlfredH1 has created a guide sharing their experiments with colour sensing. And Electro18 shows it's possible to build your own sensor for under $2, which won them second prize in the Instructables Tech Contest.
The LEGO® MINDSTORMS® EV3 kit includes a colour sensor, which you could use to organise bricks or take it up a notch and build an automated miniture warehouse system.