No, it does not. Urine production slows down with dehydration as the body tries to conserve what little water it has. The urine, conversely, becomes much more concentrated and darker in color. It's like a very dark brown-gold, and reeks to high heaven due to the high concentration of uric acid and assorted salts. It can even become cloudy at it's worst. None of these side effects are desirable in the least.
The B-2 will make your urine exactly as I've already stated, highlighter yellow, almost Mt. Dew in color. It's the most neon yellow-y yellow you've ever seen. The reason that happens is that you are ingesting far more Riboflavin than your body can process so it passes it straight back out in your urine. This actually happens with most vitamins. Vitamins are possibly the biggest "health" scam in history. Very very very few people in the world are actually in need of vitamin supplements. Most average diets already provide more vitamins than your body can process so it passes the excess amount out, and if you add in a vitamin supplement on top of that, you are passing out the entire supplement. The big thing here though, is that you can safely ingest high levels of vitamins without harming your body. That's why they come in ridiculous amounts if you look at the labels on some bottles. Some of them are in excess of 5000% of your daily requirement.
B-2 (Riboflavin) just happens to have the benefit, for you and some of us, of coloring your urine. If you are a fairly healthy person and do a decent job maintaining hydration your urine tends to be clear. For myself, I was having a hard time determining the remaining capacity of my protection at certain times a few years ago. I couldn't feel how much they had absorbed. I needed a way, a visual indicator, to help me determine when they had reached their limit and were ready for a change. My urine was clear most of the time and provided an exceptionally poor visual indication of total usage. With this supplement it became really easy for me to duck into a stall and take a quick visual assessment of the situation down there.
I have since had feeling return in that area and don't have to rely on visual aids anymore, but I still do like the yellow for some reason. It's a color that can't be hidden. I was wearing Molicare Superplus and Tranquility Slimline Breathable's at the time. The Molicares are a dark purple and the Tranquility's were orange/peach colored. The coloring due to the supplement still showed easily in those diapers.