Most fish don't recognize you per se, unless they're like Oscars and feed from your hand. Fish recognize the vibrations in the water caused by your walking (similar to what fishfreek said). Presumably, they increase as you draw nearer to the tank, so that helps. I know this for a fact! My tiger barbs would often get excited when I entered the room because they associated my footsteps with being fed. However, one time, I hurt my foot and was limping, and when I entered the room, they all shied away to the opposite end of the tank. When my walking returned to normal a few days later, they greeted me, waiting to be fed. Fish do have a little biological clock implanted in them, so if you feed them every day at a fixed time, they recognize that time and expect to be fed, even when you're running late. Sort of like my cats . . . one of them rouses herself from her sleep every day a little while before my mother comes home (my mother feeds the cats) or when it's actual feeding time. They come to expect things at a certain time, and the cats are nice and vocal when they think you're not quick enough on your toes to feed them! So the fish are probably doing the same. I can't speak from experience with the fish, though; my school schedule was too hectic to fix a time to feed them. So although they may not recognize YOU, they do recognize the signs that accompany being fed. Unfortunately, I'm stuck on the idea that my fish are actually semi-intelligent . . .
At least it's nice to know that they HAVE a memory, however small it may be! And I didn't even know the rumors about red lights . . . I did read, though, that some animals can see only red, black, and white. One time, I was playing a computer game, and my cat was attracted to the red objects and ignored the rest . . . any ideas? I thought they were colorblind! Oh well. All these rumors and ideas and no one to prove them for once and for all!