Hi Mike, mine is in three four colours, firstly the motor base and legs are white, the saw body that holds the vice the hydraulic damper and the saw frame carriage is green and the saw frame is black with red (whats left of it) lettering. Mine has what looks like a workshop made guard around the belts and pulleys, which just has grey primer on it. All the paint looks a bit distressed but it still cuts metal OK.
Phil, if I understand your rotation, you have it correct. The rod that pushes the saw frame should be pushing overarm.
When I first started work there was one of these, and that shared line shafting with the carpenters vertical band saw, no special clutch was used, just engaged the dog clutch that is fitted to these saws.
Regards Nick.