You guys should come to the mountains more. I've seen these twice, though nothing as large as those pics, not even close. That early in the morning, you're not quite sure that you see it, its a blur of a formless rainbow. Th wind blowing over mountain ranges can push air and moisture higher up then normal. Add to that winter temps, easily reaching that low when that high, and the correct angle of sunlight, and you've got a perplexing and amazing sight. What I saw was more this speed:
http://www.sundog.clara.co.uk/highsky/n32a.jpg
Once, for a period of about 20 mins, I swore the town of Wellington, Co was a UFO. It was 4am, and I was already 2hrs into the climb...leave me alone.