Yes, many women report having much more vivid and colorful dreams during pregnancy than they ever did before. This may be due to those wild hormonal fluctuations you're experiencing, which can make your emotions (even when you're sleeping) and your dreams more intense now. But a more likely explanation has to do with how well or deeply you're sleeping these days. Since pregnant women tend to wake more often throughout the night (as a result of being physically uncomfortable, needing to pee, or because the baby is moving), they experience several interrupted phases of REM sleep, which is when dreams occur. If you're awakened during the REM stage of sleep or just afterward, you're a lot more likely to remember your dreams, making them seem more vivid, colorful, and real.
Your bizarre dreams likely reflect your thoughts, hopes, and fears about pregnancy and becoming a mom. It's common to dream about things like losing the baby, the presence of the baby in bed, or talking animals (which may represent your baby). Some women even dream about their partner having sex with someone else, which stems from a need to feel assured that you will receive support from him after you become a mom. Consider jotting down your dreams in a journal, so you can share them with your partner and get chatting about what he's dreaming of as well (yes, it's normal for expectant dads to have some crazy, vivid dreams of their own).