no, it doesn't let you do slightly odd repetition patterns.
the options are:
daily
monthly
weekdays
every mon/wed/fri
tu/thurs
weekly
yearly
I just figured out I can put things into different categories with different colors. Rad.
But for some reason there is not really an easy way to do that, unless you do it at the time you create the event. I decided I wanted to make Concerts a different color, and I had to go through every single one I had typed in and switch it to be part of my "Shows" calendar rather than my General one. By clicking on it, and going to "edit event details," and then switch it.
There is also not a way to change the colors of items arbitrarily (ie, other than putting them on a separate "calendar" which still shows up on your main calendar.)
So, I have to either make a separate calendar called, I don't know, "events" and put such as Spring Break, Last Day of Classes, etc on that, or make them the same color as school assignments and exams. Lame. I guess it is kind of like how you can't make folders in gmail?
google docs is also pretty rad.