We study the phase behavior and the collective dynamics of interacting paramagnetic colloids assembled above a honeycomb lattice of triangular shaped magnetic minima. A frustrated colloidal molecular crystal is realized when filling these potential minima with exactly two particles per pinning site. External in-plane rotating fields are used to anneal the system into different phases, including long range ordered stripes, random fully packed loops, labyrinth and disordered states. At a higher amplitude of the annealing field, the dimer lattice displays a two-step melting transition where the initially immobile dimers perform first localized rotations and later break up by exchanging particles across consecutive lattice minima. DOI: 10.1103/PhysRevLett.116.038303 Geometric frustration arises when the spatial arrangement of the system elements prevents simultaneous minimization of all interaction energies, and features at low temperature a highly degenerate ground state [1]. Effects of such phenomenon manifest in disparate systems, from classical magnets [2,3] [7][8][9]. Recent experiments with size-tuneable microgel particles [10] have shown that strongly confined colloids represent a versatile model to investigate geometrically frustrated states. In contrast to lattices of interacting nanoscale islands such as artificial spin ice [11,12], colloids feature time and length scales that are accessible via simple light microscopy, combined with the possibility to control in situ the pair interaction via external fields.Above a periodic potential, microscopic particles can be arranged into colloidal molecular crystals [13], i.e., lattices of doublets, triplets, or larger clusters characterized by internal rotational degrees of freedom [14]. While colloidal molecular crystals are excellent models to study geometric frustration effects due to competing orientational order and lattice constraints [15][16][17][18], the focus of these experiments has been placed mainly on the melting scenario of trimer systems on a triangular lattice [13]. On this lattice, trimers can be arranged only in one of two orientational states, while dimers present a richer phase behavior due to the larger number of possible configurations between pairs [17]. The lattice covering by dimer particles is also a fascinating problem in statistical mechanics [19], which has been recently the subject of renewed theoretical interest [20,21], in addition to being present in different processes like melting [18], self-assembly [22], and molecular adsorption on a crystalline surface [23].This Letter investigates the colloidal ordering and dynamics of interacting microscopic dimers self-assembled above a honeycomb magnetic lattice. Each dimer is composed of a pair of paramagnetic colloids confined in a triangular shaped magnetic minimum. An external precessing field sets the dimers into rotational motion, annealing the lattice to a minimum energy state. Depending on the field parameters, the resulting dimer arrangement can be mapped to a long range striped...