For me, it usually does, but not always. I'm apparently one of the few people who doesn't like Majesty's extreme actions in the comics and that's affected me to the point that I'm really not sure if I want her toy, even though it's one of my top favorite color schemes ever. I also usually don't like Rainbow Dash and have very limited Rainbow merchandise compared to some of the others.
And yet I'm so in love with Trixie's color scheme that I do buy merchandise of her, despite finding her just about the most shallow character on the show. At least her latest episode makes me feel a little better about wanting Trixie stuff.... I just can't resist a medium-blue Pony. I think she's the only one in G4 who's that color.