Terry: Currently I am restoring an Old Town 50 pounder that originally was orange. In searching the build records orange comes up from time to time, but it was not a common color. Refer to the OT color distribution pie chart under Research and History to see the breakdown of colors.
As far as the stripe is concerned, it probably was just that. Look under the Canoe Catalog Reference guide for Old Town's design patterns. Usually if the canoe was painted a specific design it was noted on the build record. Benson may be able to clarify this further. My guess is that it may have had a 1/2" wide black stripe running the length of the canoe probably 3" or so under the gunwhale. That's what mine had. - Al