Does a highly visible frame colour improve safety significantly?
It wouldn’t make much difference from the rear. All a driver could see from the rear is the top of your seat stays, which aren’t very large. Same goes for the front. From the side, it would make more of a difference, but I wouldn’t say it’s significant enough to justify the fancy paint job.
Of course, if you like the way the fancy paint looks as well, that might make it justifiable.