It was very common for these college bowl games to give out nice watches to players and coaches. The Cotton Bowl gave Rolex watches at around the same time.
I was able to find reference to a 1967 Orange Bowl watch for sale on Craigslist, but won't post the link here as it might be the one you are looking at. I can send it to you by PM if you want.
No pictures on the Craigslist ad, but description sounds the same as the Farfo example you included in your post. The price asked there looks reasonable if the watch is in good shape, but without any pictures, who knows?
My guess is that these watches likely were US market models that came with a 17 cal. 550 movement, or possibly a 24 jewel cal. 552. They probably had a simple leather watchband not much different than the one you see there and a buckle with an Omega logo.
Generally these bowl watches have the name of the presentee engraved on the back. It should be a pretty simple matter to establish provenance to someone on either team by Googling up the respective rosters.
I'm familiar with that 1967 game, since it matched my Florida Gators against Georgia Tech. Current South Carolina coach Steve Spurrier was the Heisman Trophy winner that year and was the winning quarterback for the Gators.
I don't think the bowl tie-in adds a lot to the value unless the player became famous later on. For example, if you were buying Spurrier's watch, the sky's the limit, particularly to a Gators fan like me!
Hope this helps,
gatorcpa
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