Hi My silver dollars do the same thing, and they lay eggs when doing it. My male doesn't have much red on his anal fin at all, my female has more, my males anal fin is...longer if that makes sense, it has a bump in it instead of being straight like the females. The get black smudgy spots on their sides and a black line to their tails, the red on their tails goes redder and the male gets red around his gills and they aldo get black spots on their dorsal fins. Their silver colour gets deeper and almost has a rainbow look to it. Haven't had any successes with the eggs but that's because the other fish eat them.
The colours fade back to the silver and red for a couple of weeks and then they are at it again, colours deepen, black appears, and they shimmy!!!!