I attended a lecture by a well known quilter, I can't remember who it was, but most of you would know her.
She started her trunk show with a few quilts that had yellow in them, saying that it was difficult to use yellow cuz it immediately drew the eye to the color/part of the quilt. She showed several examples of yellows in beautiful quilts and she was right, the yellow was distracting.
Altho she did show 1 or 2 examples of great quilts that yellow worked in.
I find that yellow can add a bit of spark making a quilt sparkle and shine, but it has to be used sparingly.
Of course if you are making a quilt almost entirely of yellow or in equal amounts of color with it, I think that is a different story. Then it is a yellow quilt.