Sadly, I lost this fish. It was the brightest and most colorful fish I've ever had. You can see the purple highlights and red fins in this video showing his flashing state. Around 25 seconds he really pumped up the saturation to where the purple gets even brighter.
Yes I did have a handful of wrasses, but it is really difficult to keep them all happy and typically only one or two will ever reach a dominant state at one time. I noticed the wrasses would get violent when a lower dominant fish would get boisterous and challenge the alpha. I attribute most all of my losses to this behavior. In the end I would only really recommend 2 to 3 lesser aggressive wrasses at a time, unless you have a giant tank. Also, whichever fish you want to be alpha you should add first.