If you have reason to believe the fish are looking up and chasing baitfish, it behooves you to throw something that a) looks or acts like what they're after, and/or b) is above or at the level in the water column that the bass are.
So you've got a few options. Soft jerkbaits like flukes, hard floating or suspending jerkbaits, poppers of all sorts, wakebaits, plopper-style lures, walking baits. Senko-style stickbaits will still work, but if the fish are as keyed in to the specific behavior you see as you describe, dragging them on the bottom isn't gonna get it done. Maybe try a wacky rig with a brighter color plastic.
You can have any color you want, but if I'm trying to imitate a baitfish, I generally stick to bluegill/baby bass/white/shad patterns. It doesn't really matter if shad aren't in your lake. It matters that what you're throwing looks small enough to eat and helpless enough to be an easy meal.