Come on guys, how many times have you glanced in the distance after clearing out a mob, and you see that glorious Orange glow, distinct from the usual and common yellow glow you get…
…
…
Only for it to be a yellow money drop lined up perfectly with a red health drop, creating the illusion of a Legendary…
Yep…been there. Just happened yesterday when I killed a tubby, because you expect an orange of course. so I was disappointed twice…when I saw my orange drop was really yellow + red AND when I realized it dropped nothing of value.
Literally the same exact scenario that just happened to me! 
All. The. Time.
The weird light on the dahl chest in caustic caverns makes me think a manky blue is a pearl sometimes.
I find the same thing in Marcus’ storage room and the Captain Scarlett treasure room as well. Actually, there are a few spots like that.
Yes to both, I think it’s purely the background lighting being a bit dark compared to the rest of the game, makes run of the mill crap look like treasures 
The other places that have an odd effect on certain loot spike colours are ice surfaces. It’s even more extreme in Battleborn - in the final arena for the Algorithm, it can be almost impossible to spot anything on that floor!
Yeah, Sometimes it’s hard to see a Hornet when killing Knuckledragger, etc.
all the time especially after afew rounds in the BarRoom, heck theres times I even see a Pearl and have to back track a find out it’s just two colors that lined up perfect
You have to think they designed it to do that on purpose
The fish in Wedding Day Massacre…
or when a blue and a green mix itself to look like a pearl xD
I’ve had some pretty convincing seraph spikes, only to realise they were bleached out health vials.
Legendary money…
When he finds out who is responsible for it…
I don’t know how many of you use Dahl booster shields, but I get false positives for Pearlescents all the time if I lose track of them.
NEW ONE…
When you farm for hours for something, finally get a drop… and it’s worse than the one you were trying to replace.
This happens to me all the time when playing Sal. I’ll see an orange out of the corner of my eye, swing around, then realize it was just a money drop seen through the lens of his 'zerker vision. 
'Zerker vision in Caustic Caverns in the mine cart tunnels was always a nightmare on 360. It always seemed like the colour plummeted to 3 bit… Haven’t tried it on the XB1 yet; I sure hope it isn’t as bad there.