Let me first say, I don't own a Parlee (working on it), but if I knew they would
do what you
mentioned, I would have bidded on that frame myself. I too wasn't thrilled with
the yellow
and red, so stayed away. At the price you got it for, if the inspection and
rework is
reaonable, I would do it. I would do this just for the feeling that this frame
would feel a bit
less "used" and become more for me.

Good luck and let us know how things work out.
Paul