The PAAC flew aircaft in different color schemes. Here is my analyis based on the photos and documents that I have :
Trainers - such as the PT-17 and 76Ds flew in Olive Drab Fuselage and Red (red-orange wings). Most of these aircraft were ordered directly from the US and they were painted based on specs as requested by the PAAC. The Olive Drab used were either the Olive Drab # 31 (which was darker and closer to a brown shade) or the latter Olive Drab 41 which was seen on USAAC aircraft by the time war erupted. It was also said that some of the 76Ds wore a Bronze Green to Medium Green color but lack of colored photos at at that time prohibited me in confirming said colors.
Transports / Hack Aircraft - such as the, Bellanca, Beech, etc. flew in Olive Drab or True Blue 23 Fuselages and Yellow Wings while some were seen in Natural Metal Finish with Dark Blue engone cowls and black anti-glare. The NMF was more prominent in the early 40s while the OD, Blue and Yellow Wings were seen in the mid to late 30s.
Pursuit / Attack / Bombers - now this is where it gets interesting because they flew in in several shcemes both pre-war and during the conflict. The P-26s when transferred to the PAAC still sported their pre-war US markings and squadron isignia (mostly from the 3rd and 17th PS Squadron). One photo at the inauguration at Zablan in July 1941 clearly shows the five (5) P-26s lined up with their US markings but with a PAAC diamond on the tail. They sported True Blue 23 fuselages and chrome yellow wins The other side of the photo reveals another 5 - 6 aircraft but this time in NMF finishes and its assumed that they also have retained the their US markings. As to the time they were said to have been applied with the PAAC camo is not known for sure but during wartime, some of them still flew in USAAC colors with their US roundels and squadron insignias painted over with Olive Drab or Medium Green and then the PAAC Diamond applied to the aircraft. The lone B3 Keystone Bi-plane bomber was said to have been painted in Olive Drab Fuselage and Yellow Wings while some mentioned that it had red wings -- similar to the PT-17s and 76Ds. However the confusions may have risen due to the fact that a lot of the black and white films used at that era were either panchromatic and orhtochromatic which makes the lighter colors appear darker. Such as the case of the color yellow that when shot with orthochromatic fils give you a darker shade than the light blue or olive drab fuselage. The speculation continues. The P-12E (we had two of them) sported the True Blue 23 fuselage and Yellow wings (also verified by the Aquino brothers - when they saw them at Zablan in the 1940s). Older P-12Bs and P-6s and P-9 Hawks had Olive Drab 31 and Yellow Wings when they were in service with the USAAC in the early 30s.
As of the moment I am still analyzing several photos of USAAC and PAAC aircraft in the P.I. and cross checking them with several documents of their transfers and origins. Note that the USAAC changed the official color and camouflage schemes in the Mid 30's and these some of these aircraft were ordered to re-painted with the new official liveries. I know for a fact that some of the USAAC a/c based in the P.I. followed suit but it wa s not always the case for some aircraft.
Will try to post photos later on.