inorganic chemistry - What does a molecules color have to do with its bond/orbital energies?

For example, elemental iodine is deep violet. Its sigma bond or perhaps the lone pairs are capable of absorbing all visible light frequencies except violet which is why we see it as that color. Lithium, on the other hand, is red which means its valence electrons must be reflecting red frequencies. So, does that mean the valence/bonding electrons of $\ce{I2}$ are higher energy than the lithium valence electrons? In other words, is there a relationship between an orbitals energy and the type of light it can reflect?

You could perhaps compare $\ce{I2, Sn^{II}I2}$, and $\ce{Sn^{IV}I4}$, and which are violet, yellow, orange (in decreasing order of visible light energy).

Perhaps it has to do with symmetry? $\ce{I2}$ is $D_{\infty\mathrm{h}}$, stannous iodide is $C_{2\mathrm{v}}$, and stannic iodide is $T_\mathrm{d}$.