To be a bit nit-picky, Cherenkov light typically has a wide spectrum. For water it spans the entire optical range, peaking around 350nm and dying off at longer wavelengths. So you could, for example, put dye in water such that it absorbed more blue light, but you'd still be able to observe some red light from the Cherenkov radiation escaping. But the signal would be much fainter.

Although, one further caveat, changing a materials absorption spectrum will also change it's refractive index as a function of wavelength, which will in turn effect how much Cherenkov light is emitted at each wavelength. So the situation is more complicated still.