707 Ops revealed today on their facebook that Y127 has been repainted into V/Line Orange and grey livery. Others may be able to correct me, but this will be the first preserved loco painted into in that livery, asside from what they might have been in when entering preservation. Based on a quick google search, it has previously ran with this colour scheme. Prior to the new repaint, Y127 previously ran with what i'll describe as a 707 ops red and black custom livery.Last night (30/10/2021) it was sighted through Sunshine on a transfer to Castlemaine with A66 and carriages. A66 was leading Y127.
They have it noted that Y127 will be running with R707 later in November on a series of picnic express trains to Bacchus Marsh. I could be reading more into this, but it may indicate the loco has been upgraded with high speed bogies. We will see in time i guess.