Oh, and mention of paint? You doing a texture layer for a big bright team/corporate specific colour?
That i understand
That moment you spot the ship and scale kicks in is the best 
Our masked paints change color easily via parameter. Decision on how and where paints actually change color is yet to be made.
Will teams be able to pick their color themselves, or is it random?
Randomised corporate branding colours? The horror, THE HORROR! 
That’s a good question, at the moment we are just planning on Red vs Blue but you can still customize your ship with decals and different paint jobs etc.
Should be GREEN vs PURPLE!!!
YELLLOW vs CYAN
Since when was red and blue three colours?
Translation
There are supposed to be three teams.
I second this not just for the reference but also because red vs blue is too overused 
Also red and blue imply red are the bad guys and blue are the good guys.
I’d prefer more neutral colours.
I am for neutral colors.
You can customize your teams color (hud elements, markers etc) and the enemies color.
For example your team is always green or blue, enemy team is always red.
The ship painting should IMO not reflect your team color, most of the time the ships are probably to far away to differentiate the colors anyway, and the colors are better used with clan or group colors anyway. Constantly or even sometimes switching team colors between matches can get confusing in my experience.
100% biased because green is my favorite colour, so any option that gives me a green team or allows me to become green I will get behind.