When you say basic wood color, I assume you mean you have a medium oak woodtone - not dark, not painted white. Oak, for example, can be golden, cinnamon or brown. It makes a difference for selecting wall colors.
What color flooring and funiture do you/will you have in that room? Any pattern i.e. window treatment fabrics, area rugs?
Colors from the warm side of the color wheel are a good choice for finished basements. Definitely will cozy it up, bring in some energy and would be very appropriate for an active space. You might also consider a full spectrum paint like Ellen Kennon
www.ellenkennon.com. they are easily obtained thru ICI Dulux. Full spectrum color is way cool, can add a little extra oomph and they are especially nice in the warmer colors. EK's Tuscan Sun is fun (have that in my kid's bathroom) Carnelian is definitely an orange, but it's not obnoxious.