The Color Wheel is a truly awful movie. Let's start with the simple fact that the title has nothing to do with the movie, which was shot in black and white for an unknown and almost certainly completely pointless reason. A 'slacker road trip' film, I can buy the idea that the filmmakers were trying to capture some Clerks like magic and failed miserably.
It's the story of a brother and sister on a road trip, played by the couple who made the thing, which gives it a very weird vibe off the bat. The dialog is all improvised, which can be a good thing if the people doing the improvising have talent. This couple does not. If you've ever been stuck on a long car ride with people who think they're witty and won't stop bickering until you have the urge to put an icepick into someone's head (possibly your own) then you have experienced this film. The big Shock! Twist! ending is so unmotivated, and the characters are so unlikeable, that it feels painfully forced and falls flat. And if you haven't walked out of the theater by that point in a vain hope that it might get better you will be thoroughly disappointed. Stay home and watch reruns of the Simpsons instead of subjecting yourself to this mess.