this is similar to another pursuit frame I have seen for the '72 games, word on the track by 1974 was that the reason they were so ugly was that the seat stay bridge was missing, I suspected this a bit, my guess was the chainstay bridge was left off due to rush to finish them off, the bikes got bad reviews the story goes, and were modified offsite. The '72 team selection was pretty late by modern standards, so once the team was selected it was a mad dash to provide bikes.
The "official" color was the opaque blue for the team, each rider got a road bike too, if they raced the track.