Here is something interesting.
Suddenly considering the '97 laserdisc the reference seems shaky. It also calls the 2003 DVD into question which we assume is right because it looks similar to the '97 release.
I'm not sure what the '87 source is here (I assume a LD or VHS), but it looks A LOT like the '08 release's colors.
Don't get me wrong, I have no doubt Disney has reanimated the '08 version, but those colors may not be as wrong as we all think.