Pellet colour influences feed intake in fish, especially in visually oriented species, by enhancing visibility, attractiveness, and potentially growth performance, and it can indicate ingredient composition and processing quality [
24]. The
L*,
a*, and
b* values of all diets showed significant variation when compared to the control diet. The MIX25 diet was similar to the control, while the other diets had lower
L*,
a*, and
b* values, making them darker. The control diet without insect meal was lighter than all others except MIX25. The colour of insect meal greatly depends on the production process, especially the drying temperature [
25]. For example, high-temperature processing can promote the formation of dark-coloured compounds, mainly through the Maillard reaction, a nonenzymatic reaction between sugars and proteins that produces coloured and aromatic compounds [
25,
26,
27]. Enzymatic browning, on the other hand, can be attributed in part to phenolic compounds released from the cuticle or tegument of the insect. As a result, the product could undergo oxidation, protein–polyphenol interaction, and a reaction with phenoloxidase, which catalyzes the browning of the insect meals [
28,
29]. Microwave drying yields lighter meals, whereas defatting and extrusion can also darken colour depending on parameters like screw speed and temperature [
25,
30]. Increased insect meal inclusion did not consistently affect CIELAB parameters, and colour differences may result from extrusion or the interaction of HI and TM meals. No detailed CIELAB colour analysis exists in the literature for insect-based fish feeds, making comparisons difficult; Kari et al. [
31] assessed pellet colour visually, which is not directly comparable. After an 84-day feeding trial, survival differed significantly, with the highest mortality in MIX75 compared to TM100, HI100, MIX25, and CTRL. As the maximum inclusion levels were 18.6% HI (HI100), 21.85% TM (TM100), and 20.3% (10.15% HI + 10.15% TM) in MIX100, it is unlikely that insect meals or their combination caused this result, since these levels are below those previously reported to induce stress in trout. Growth performance (FBW, WG, SGR, FCR, PER) was not negatively affected by total FM replacement with HI, TM, or their combination, confirming previous findings: up to 50% FM replacement (15% or 21% HI inclusion) [
7,
32], 100% substitution (32% HI) [
12], and 25–100% FM replacement (5–20% TM) [
9] showed no adverse effects. Variability among studies likely reflects differences in insect meal origin, processing, fat content, fish species, age, and rearing conditions. The observed stability of growth performance is reflected in the unaltered physiological conditions and somatic indices. The present findings demonstrate that HI, TM, and their combination can completely replace FM (up to 100%) without negatively affecting K, CY, HSI, VSI, and CF. All treatments yielded K values above 1, indicative of a good physiological condition and comparable to values previously reported in rainbow trout fed HI [
12,
32] and TM meals [
9]. De Francesco et al. [
33] argued that different K values could be associated with different fat synthesis and deposition processes due to different feeding regimes in trout. No significant variation in K and CF was observed, suggesting that insect meal inclusion did not alter lipid metabolism or deposition patterns. Similarly, carcass yield and somatic indices were not significantly affected, consistent with previous observations in rainbow trout fed HI [
12,
32] and TM (up to a 28% inclusion level) [
34]. The only exception was a significantly higher HSI in fish fed the TM100 diet (
p < 0.05) [
9]. The intestine is directly involved in nutrient digestion and absorption and serves as a protective barrier against microbes gaining access to the gut. It is well known that dietary factors may positively or negatively influence intestinal health or, specifically, villus morphology [
35]. In the present study, no significant differences were observed in anterior gut morphometry among treatments, in agreement with Caimi et al. [
7] (15% partially defatted HI, 50% FM replacement). Similarly, TM inclusion (10.5% HI + 10.5% TM, up to 100% FM replacement) did not alter intestinal morphometry, consistent with Melenchón et al. [
11] and Józefiak et al. [
36]. The histomorphometric parameters associated with the use of TM have been little investigated in the literature and, apart from two studies by Józefiak et al. [
36] and Melenchón et al. [
11], most have not reported changes in these parameters [
37,
38,
39]. Regarding histopathological alterations of the anterior gut, liver, and spleen, they varied from absent to moderate in all the organs. The absence of adverse effects related to dietary insect meal inclusion observed in the organs examined in the present study is in agreement with the available literature [
3,
7,
11,
40]. The unaffected growth performance indicates that the HI and TM meals supplied a level of nutritional quality comparable to fishmeal. Moreover, intestinal morphometry and histopathology of the anterior gut, liver, and spleen remained unchanged, confirming the digestive safety and physiological compatibility of insect meals at 100% FM replacement (10.5% HI + 10.5% TM). The replacement of fishmeal with insect-based protein sources, such as HI and TM, in rainbow trout diets induced genus-level shifts in the gut microbiota that reflect adaptive responses to novel dietary substrates like chitin, lipids, and amino acids. The gut microbiota data from six experimental treatments (CTRL, HI100, TM100, MIX25, MIX50, MIX75) assessing the effects of fishmeal substitution were included in the analysis. The dietary inclusion of HI, TM, or their combinations in rainbow trout did not induce significant changes in gut microbial richness, as indicated by alpha diversity (Shannon, observed species, and Chao1;
p > 0.05) or beta diversity indices. Nevertheless, a trend toward increased microbial diversity was observed in fish fed insect-based diets. These results align with previous findings in rainbow trout, where the administration of HI-containing diets resulted in either comparable or elevated alpha diversity, as measured by the Chao1 and Shannon indices, relative to the control group [
41,
42]. Firmicutes, Proteobacteria, and Bacteroidota dominated all treatments, in line with previous studies [
43].
Mycoplasmoidaceae were detected in the intestines of trout across all dietary treatments, HI100, TM100, MIX25, MIX50, and MIX75, and they were dominant in the CTRL group, while
Metamycoplasmataceae was more abundant in the HI100, TM100, and MIX25 treatments [
44].
Mycoplasma is considered a gut symbiont that contributes to host metabolism by utilizing dietary substrates to produce lactic and acetic acids as the main fermentation products [
45]. While these species are often associated with pathogenicity, their persistence here may indicate a commensal role in nutrient scavenging, particularly in degrading chitin, a structural polysaccharide abundant in insect exoskeletons. A high abundance of
Mycoplasmoidaceae in the gut microbiota of juvenile rainbow trout has also been previously reported in salmonids [
41]. The abundance of
Ligilactobacillus and
Lachnospira, known for producing short-chain fatty acids (SCFAs) like acetate and butyrate, in the gut microbiota for fish fed different diets (HI100, TM100, and MIX25 diets) underscores their probiotic role in maintaining gut barrier integrity and modulating immune responses [
46]. These genera likely benefit from the chitin-rich composition of insect meals, as SCFA production in carnivorous fish has been linked to increased dietary fibre availability, particularly from indigestible components such as chitin, rather than dietary lipid content [
12,
43]. These SCFA-producing genera are indicators of a healthy gut in fish. Their existence in control groups suggests stable microbial functionality, whereas their reduction in other treatments (MIX50 and MIX75) may reflect dietary or environmental stressors [
47]. The genus
Aeromonas was observed significantly more frequently in the TM100, HI100, and MIX25 groups, less so in the MIX50 group, and it was absent in the CTRL and MIX75 groups. This genus may act as a commensal or opportunistic pathogen, depending on the context. Its presence in low abundance is generally considered normal in healthy fish, whereas overgrowth may indicate a microbiota imbalance or stress-related factors [
48]. In this study, the gut microbiota showed a positive shift toward SCFA-producing bacteria and reduced foodborne pathogens, suggesting a beneficial increase in diversity associated with the improved ability of fish to cope with intestinal disorders [
12]. Regarding fillet physical quality, fillet colour is a key parameter influencing freshness perception and consumer choice [
49]. In this study, only the
L* parameter of the CIELAB colour space was affected by the experimental diets. The
L* value observed for the CTRL diet was comparable to those of all other treatments. Given the similarity between HI100 and TM100, it can be inferred that the inclusion of HI and TM meals does not have a significant impact on fillet colour. Similar findings were reported by Secci et al. [
50] and Caimi et al. [
7] with HI (full-fat or partially defatted) and by Iaconisi et al. [
51] for up to 50% full-fat TM meals in
O. mykiss. In blackspot sea bream (
Pagellus bogaraveo), a 40% inclusion of full-fat TM meal significantly increased the
b* value [
52], possibly due to fatty acids or pigments such as riboflavin [
53] and β-carotene [
54], which are known to influence the
a* value when more than 50% of FM is replaced by TM or HI meals. For pH
24h, significant differences were observed—the lowest in MIX25 and the highest in MIX75—while most insect diets showed lower values than the CTRL diet. This trend may be attributed to the modified buffering capacity and protein composition introduced by the inclusion of HI and TM meals. The relatively higher pH in MIX75 suggests a potential synergistic effect at this inclusion level, possibly stabilizing post-processing acidity. In contrast to the present study, Caimi et al. [
7] found no effect of HI, and Iaconisi et al. [
51] reported no effect with up to 50% TM on the pH
24h value of rainbow trout fillets. Regarding WHC, only the DL values were influenced by the experimental treatments, with MIX75 showing a significant difference compared to the CTRL diet. For TL and CL, the different experimental treatments did not affect the values obtained. Similar results were reported by Secci et al. [
50] for the CL (up to 50% full-fat HI), Caimi et al. [
7] for the DL, Avramiuc [
55] for the TL, and Iaconisi et al. [
51] (up to 50% TM) for rainbow trout fillets. Regarding the TPA, the use of the experimental diets to feed
O. mykiss caused no differences in the parameters evaluated. Melenchón et al. [
56] reported no changes in the TPA parameters of fish fillets with the inclusion of insect meals in the diet. Similarly, Chaklader et al. [
57] found that full-fat and defatted HI meals did not affect adhesiveness or springiness but increased fillet hardness, chewiness, and gumminess, potentially reducing fillet quality. Additionally, studies on shear force, such as those by Caimi et al. [
7] and Iaconisi et al. [
51], indicated no significant changes in rainbow trout fillets with the inclusion of insect meals. Finally, the experimental diets were designed to be isonitrogenous, isolipidic, and isoenergetic and they did not affect fillet chemical composition, confirming efficient nutrient utilization. Similar results were observed by Dumas et al. [
58], Rema et al. [
10], and Caimi et al. [
7] for HI meal-based diets and Jeong et al. [
34] and Iaconisi et al. [
52] for TM meal-based diets. The apparent digestibility of nutrients in the six treatment diets was similar to that recorded for the CTRL diet, as previously presented in earlier studies [
7,
12]. In this study, the different inclusion levels of insect meal mixtures of HI and TM in trout did not have a negative effect on nutrient digestibility. For all treatments, the ADCDM was around 80%, while the apparent digestibility of nutrients such as crude protein (ADCCP) and ether extract (ADCEE) was around 95%. These high digestibility values across all diets suggest that the feeds provided sufficient nutrient availability, which is consistent with the similar growth performance observed among all treatment groups. Similarly, the graded substitution levels of FM with TM meal (20%, 30%, 60%, and 100%), corresponding to 5%, 7.5%, 15%, and 25% inclusion levels, respectively, had no effect on the apparent digestibility coefficients of dry matter, protein, fat, phosphorus, and energy in trout [
10]. In contrast, several studies have reported that high inclusion levels of insect meal can negatively affect the apparent digestibility [
59,
60,
61]. This reduction in digestibility is generally attributed to the increased chitin content and the lower digestibility of certain insect-derived components at higher concentrations, which may impair nutrient absorption and gastrointestinal function. For example, Liland et al. [
59] reported that in salmon, rainbow trout, sea bass, or seabream, the digestibility of crude protein begins to decrease at an insect meal inclusion level of 25%. This decrease is often associated with an increase in chitin (above 2–3%), which negatively affects the specific growth rate and feed conversion ratio [
62].