Can you quote an example of this red over painted hand being seen before? Are you sure you aren't perhaps confusing this with the Ultraman Orange hand? It looks awfully like a regular hand that has been rather clumsily overpainted. Not factory looking at all.
Calling
@Spacefruit (the boss of Speedmaster matters, or at least on the high command) have you seen anything like this?
Thank you for invoking "the name", hopefully he chimes in. In what I have read, the folks who have seen this before, though rarely, confirms that what they have seen is not the ultra man wedge-shaped hand, but the regular hand, like this one, painted over where the lume would be, which is admittedly a bit odd, but also it has been seen before.
I'm fairly certain that the Omega technician, who is a Speedmaster authority for repairs, would have detected right away that this was an overpaint by a watch repairer or hobbyist and not a factory applied pain job. As I mentioned, I do not have the equipment or skill to show the hands in macro-level detail, which is unfortunate for discussing things in this format.
Again, I hear all of the suspicions that have been voiced here, but there are enough voices saying, "it might be form the factory" that the investigation continues.
It all might be for naught, but since Omega is footing the bill, I am willing to continue the ride for a bit, and dream along the way.
The bottom line is, and this from several folks here and elsewhere, is that it is an amazing watch regardless, a true heirloom for me, and will bee immensely enjoyed regardless of what it is.
Continued thanks for those chiming in!