I have commented on this topic before, as it is something actually know a little about (as opposed to every other topic, where I just flail around aimlessly). I have a post-graduate academic and research background neuroscience and psychology, with emphasis in cognition and perception, and I teach about psychological and neural mechanisms of color perception at the college level.
There are many comments on this thread I would like to respond to, but unfortunately, I don't have time at the moment. Nor do I have time to craft a detailed explanation of color vision, how it works, and what we can reasonably know vs. not know about bass vision from controlled experiments. Suffice to say, there are quite a few misunderstandings in this thread.
I am also long-winded and not very good at getting to the point.
The shortest, most direct answer to the OP's question is intensity. Even colors that are similar in hue may differ in intensity of reflectance -- how strongly light is reflected from the surface of the lure. Most versions of chartreuse that you find in lures are very highly-reflective -- more so than most versions of white. So even if bass do not distinguish between chartreuse and white, a chartreuse lure may have greater reflectance than a white lure, and therefore may penetrate better than than a typical white in murky water.
I say "may" because you don't know until you actually measure reflectance. You also don't actually know if chartreuse-black is better than white-black for attracting strikes on the water in the first place until you control for other factors, like angler confidence and expectations, which is impossible outside of a controlled experiment.
Anyway, here are some things I've said about this stuff before: