The house looks amazing and I really like the colors you are gravitating towards, but maybe the orange walls could go off-white, with accents of the lovely orangey hue you love.

I love this palette: http://www.apartmenttherapy.com/ny/anna-gabriels-padhouse-tour-100890 - although the walls might be too peachy for your sofa??

I could see you painting the walls a warm off-white, and then using some color on the sofa with vibrant pillows and blankets, and some things on the coffee table. Then maybe some really vibrant colors in the artwork above the sofa.
The brown trim is really pretty with the black and the sofa, maybe use a little more brown too!

With the dark wood, the golden color from the dining room, and the fact that you do like orange, I immediately thought of a tiger lily: http://rushlyn.files.wordpress.com/2008/06/tiger-lily.jpg

I would paint the walls a vibrant green, and for the sofa you could reupholster in orange, or if that's too daring, reupholster in a more neutral cream color and use bright orange pillows.

A nice cream color would be lovely.

I suggest you go for a light bluish-gray. I know it's a trendy color right now, which might turn you off, but it's a beautiful neutral in its own right and is a nice complement to red and orange accents. Otherwise all the colors in your room might compete with each other.

The person who painted this room crayon-orange is insensible to reason, and has no interest in my color advice.

Some lessons have to be learned independently... or not at all.

I also like the pinkish off-white that forestalia suggested!

I normally would hate to recommend anything even vaguely beige, but in this instance, I think I'd lean towards a wheat-y golden color, almost, but not quite beige. The golden beige in this color palette

http://www.antiquehome.org/Inside-your-house/1930s/1930s-Livingrooms.htm

Peacock blue

Choose the upholstery for your sofa first - find something you really love. Then pick the paint colour. Much easier.

I had this exact same quandary in my old house. I too painted my dining room a yellow that I loved. My living room ended up being a caramel color (I believe it was Behr Caramel Sundae) that complemented the yellow nicely and looked good with the dark wood. In the other room connected to the dining room, my kitchen, I used Behr Dried Palm and really loved that color too.

I would steer clear of off-whites and beiges because you seem to be a color person and I don't think you would be satisfied with the result.

Maybe a deep brown mahogany, a sanguine red and/or a wallpapered accent wall.

I have been in love with Limoges Blue by Glidden for years, especially as a back drop to anything warm. I get it color matched at Sherwin Williams.

It looks very elegant with black leather furniture and will cool down the stone hearth, pulling it toward grey and away from tan. I would then reupholster the sofa in any jewel tone gleaned from the rug you have in the other room. Or maybe a yellow velvet that matches the paint from that room?

Personally, I would avoid beige/ cream/ off-white. But so many others suggest otherwise so, who knows?

Crisp white is always a classic and would make that molding pop. You can add color with art, textiles and plants. But if you want a color on the walls, I suggest some shade of light-to-medium green, maybe sage or leaf green. Just make sure it's on the cool side and not too yellowy.

I agree with the commenter who said find an upholstery fabric you love and then pick a paint color.
As the room is now I would go with a desaturated purple, one that leans towards the blue spectrum. This will complement the mustard yellow in the dining room (nice choice btw) and bring out the the red/pink in the couch.
But I wouldn't do any painting until the couch is recovered. For the couch I would go with a slightly non-traditional plush velvet, something in a jewel-tone like garnet, emerald or sapphire.

Maybe you could just go with a "chic-er" orange. I read Habitually Chic and she loves orange and has some great pics...

http://habituallychic.blogspot.com/search/label/orange

Sally305 is right. You are a color person. Go for it. Just change the one you don't like. Why not re-choose a warm tone to paint the ceiling and then paint the walls a complementary color? Use the color of the dining room as a starting place - get the LR color to agree with it. Why leave the ceilings white, in other words? But I'd agree with PrettyKitty, find the sofa fabric you love and go from there.

A sage green....? I'd probably reupholster the sofa in a cream color and add dark orange throw pillows.

Choosing a wall color before knowing your upholstery & furnishings is like deciding which stockings you'll wear without first seeing the dress.

The fireplace is a given, the dark molding (apparently) is a given, The wood floors are a given. Start there.

Bear in mind that wall color is not one's limited opportunity to express their own unique individuality, but merely a backdrop.

If you dig bright colors, ask yourself what sort of backdrop amplifies these colors-- more brights, or subdued neutrals, or perhaps even white? What sort of color is compatible with your love of brights and the fireplace, molding, and floors? Warm colors? Cool colors? Neutrals?

Ask yourself these questions before you idly pick any wall color, as though it were your favorite color of M & M.

I love the strong colours you've chosen, but I do think that orange is too orange for that room, especially as it seems to get lovely evening light (which is a bit orange anyway).

How about a strong but light blue, as recently seen in a "Good Questions" post by Michelle - http://www.apartmenttherapy.com/la/good-questions/what-color-should-i-paint-this-room-good-questions-101055.

(In fact one of the options given in this post show a yellow very similar to the yellow in your adjacent room).

I think a similar (or possibly even a bit more saturated) would show off your other strong colours beautifully, and be a good choice for a room that gets warm evening light.

you will likely have your sofa for longer than your wall color so, as others have said, i suggest that you find a fabric that you really love and can live with for years to come. if you love the fabric, it will undoubtedly feature a color that you love enough to paint the walls.

with that said, i think a muted blue or purple would work really well and compliment the yellow in the dining room.

Is the paint around the fireplace a different color than the paint in the rest of the room? I think that color works fine and would be better all the way around - including with your existing sofa...

...however the others are right - choose your sofa fabric first (but dont' choose it while sitting in that room) then choose the wall color)

You could go with a more subdued gold that would coordinate with the gold in the next room. Look on the paint chip card of the color in your dining room, and go about three shades lighter for the living room.

For my living room, I used Valspar Homestead Resort Accent Gold. I can't recommend this color enough. It's incredibly warm and welcoming, without being too flamboyant. It makes the whole room look sort of stately without being stuffy.

If you wanted to go creamy gold, and more neutral, Cincinnatian Hotel Dominica from the same Valspar family would compliment the darker yellow/gold in the next room. Both of these colors are from the National Trust for Historic Preservation. They have a web site, which you could visit to find some colors that go in older homes. I found some really great colors there.

Don't do anything you might regret later! I agree with the upholstery first group, and I would choose the new tables when you change the fabric on the couch. Then, select a color and paint.

I'll chime in with those who suggest that knowing what your couch upholstery fabric will be will give you a better idea of what you want on the walls. For that matter, if you mean to add window treatments in the form of curtains or drapes at any point, then again, knowing what you want for fabric may affect your choice of wall color.

All that said, I disagree with those suggesting white walls -- the contrast against all your dark furniture and trim is likely to be too stark and hard for the Craftsman-ish details of your room and your stated bohemian style sense. Especially if you're using color everywhere else in the house. If it were me, I would try a nice neutral sagey green -- possibly one with a warm base note to coordinate with the warm tones of your dining room. Behr Corn Husk or Grass Cloth might be good choices. A wheat/gold color would also work well -- Behr California Dreaming for instance.

What about an olive green?

A stormy gray-blue goes surprisingly well with warm colors and prevents the overused Tuscan-Suburban earth tones effect.

I'm with michelle123! I'd paint the walls green (whether yellow- or blue- toned depends on the woodwork), cover your sofa in white twill and toss some big white coarse-grained into those chairs, some orange and black accents and a large artwork incorporating white, black, and orange over the sofa if that goes with the rest of the room. Your house is lovely!

match the walls to the color of a brown paper bag

store paper

gutsy but light

(I love what you were going for... bold and brave you are)

I agree with the suggestion to pick the upholstery fabric first. It's much cheaper to re-paint than to re-upholster. For the price you'll pay, you want to pick a fabric that will last, i.e., not a trendy color or pattern that you will tire of quickly. Then choose the wall color around that.

Personally, I think the brilliant orange is ok, if a little intense. How about taking some of that gorgeous golden yellow from the dining room and painting wide stripes on the orange? Or a large-format stencil? Do the upholstery in a neutral -- that way you can always change the walls to make the room take on a different persona.

Why not pick a color that flatters your skin tone? If you wouldn't wear it in a blouse, shirt or dress, why would you want to spend time surrounded by a color that makes you look bad?

Pastels were popular in the 1930s, and I don't think your house needs to be a period piece. Nor does it have to announce your genealogy or parents' countries of origin.

But I would pick a fabric first, and then choose paint.

Also remember to paint the wall behind the fireplace a similar/like color to the stone if you want that element to not stand out too much, and a contrast color if you want it to pop.

In regards to painting the trim- if you want clean and crisp white trim is best. If you want a comfortable, antique look, keep the dark brown. Honestly I think the dark trim kinda goes with the middle ages feel to the living room. So if you wanted to go all out, you could paint the place a rich darker color and put up lots of cool antique framed pictures and textiles to contrast it.

I like the order sousani suggests, my first idea if you are otherwise happy with the paint job was that you could play around with sponge or similar effects which would allow you to dip into with complementary colours around the same family. some yellow, some brown, even some gold to link it with the other room....
You could end up with something like this

http://www.bhg.com/decorating/paint/decorative-painting/sponge-painting/

You can always paint over if it doesnt work...

I would also recommend a brilliant teal/turquoise to contrast the warmth of the room, even if just as an accent. Good luck!

I would go with a warm grey or creamy white to go with the stone and the black chairs. I would then do the sofa in medium/light green. Turquoise acceds would also work will with this.