Just a misundestanding worth noting. The Sola He 115 was raised from Hafrsfjord, i.e. seawater, not a fresh water lake as some seem to think. Whether and how that has any effect on the way the paint deteriate us anyones guess. I think the most interesting find is that in all likelyhood the gelb (RLM04) theater bands on the underwing was repainted by locally sourced maritime paint.
Olive Drab and White seems the most likely in my mind. The USAAF would have white paint available, but probably not large quantities of red paint at hand, and it would not make the plane significantly more visible.
I think the worst kit I've come across is a Kopro Skoda D.1 in 1/72 scale. The 4 struts of the parasoll-wing where all of different lenght and width, you had to wittle something resembling a propeller from a lump of plastic, and the large decals turned instantly into a jigsaw-puzzle when introduced to water... I persevered though, and the end result was ok, at least as it's an unusual maschine in an unudual scheme. (There is a few more pictures on my blog, the text are in Norwegian though https://polarcoordinate.wordpress.com/2013/05/19/ferdigbygget-skoda-d-1-kopro-172/)