Dario,
We know from written description that the fuselage was painted Blue and yellow. So eliminate the red scheme. We know from the pictures available that it was quartered and there was no stripe, so eliminate the flying painting.
If one is certain that the darker color is Blue then the model painted in the Blue on the upper left, yellow on the upper right is correct. Something I have never considered before is that with the film type prevalant at the time, if the yellow were a chrome yellow, and the blue very light, you could end up with the darker color being the "Yellow"

Perhaps Hal and MT could use their Rossetta stone on the photos?
Personally, I think the model has it right, Stephen Lawson I believe?
RAGIII