Ok, well for me when my bulb died (exploded actually), it made a big popping sound. Like if you were to step on a light bulb. Except when you look inside, the bulb is fine, the filament just exploded, or what ever the twirly thing is.
If it made a different sound then it is something else. Since you say there is still picture I would assume the bulb is NOT dead, because it would just be a black screen (like mine was). If the colour wheel was knocked out of place just slighly, then the picture would be good for the most part, it is just when looking at it from an angle that it would look weird. If it looks funny straight on, then it is more major. I have no experience with the colour wheel so I can't help you. But if I were you, I would buy a new tv. They are pretty cheap now for a good one, compared to what they were (like when I bought mine

).
Oh, and I just had a question, is the sound it is making constant, or just when you first noticed it. If it is constant, the wheel is either completely EFFed, or there is a bigger problem.