What exactly made you think it's a Colnago (apart from the dropouts)? Hard to tell from the pic, but those lugs don't really look the part and the colourscheme and lettering are unlike any Colnago I've ever seen. One thing's for sure though, whatever it is, it certainly ain't a fake 'nago, because those tend to have too many typical decals and stuff all over the place! Some detail-pics would certainly be helpful (there, beat you to it for once, East Hill!)