We're running off supposition right? But I think you're covering the only two options available.
As I understand it the microfiche hold quite a lot of information that is specific to the watch as a whole... so if the records show it had a grey dial, it probably had a grey dial?
If it did, it looks like it was swapped a long time ago (or recently using NOS parts). Maybe at a service by customer request? Or by a dealer who wanted to change the look of a piece he had for sale?
A lot can happen in 50 years.
This might be one of those "there's no real way of knowing" things.
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