My results are the same as Scott's.
I've been skeptical about bright orange, but the advantages for small flies in ripply, foamy water won out for me. I used to reserve the hi viz for tough viewing conditions, but last year I tied most parachutes in hi-viz orange. I also add orange "hotspots" to hard to see flies like Griffith's Gnats. Although these are hotspots intended for my eyes, I sometimes think the fish like them too.
I use both bright fluorescent orange EP fibers and spooled antron that is marked Fluorescent Orange. The EP Fibers are much brighter and more reflective, and sometimes I think they are too much, so I go with the antron. Both catch fish.
I've caught some large browns in fairly slow water with orange posts. Last Friday, I spent the whole day fishing ants in the calm water next to the bank, and I had a great day on some very highly pressured water. I alternated both white and orange posts and several of the biggest browns took the orange.
It's a paradox for me, because last year I switched off orange Thingamabobbers to transparent ones or more subtle Aussie wool indicators. I convinced myself that it made a difference in hard fished waters. It doesn't make sense that an orange indicator floating a few feet above a nymph would be more alarming than an orange post on a fly, but I switched, and now I only use the orange bobber in heavy current.
I have some fishing buddies that are very reluctant to use my hi-viz flies. When I offer them a choice, they pick the natural.