I notice the handle bars on that bike are awfully close to the safety glass on that CTC-5. My Wingate CTC-5 does not have the word "color" on the safety glass as well. I think you're correct that RCA added the "color" decal to the safety glass as a running production change in later CTC-5 models. However I do see the "color" decal only on the "Lockhaven" CTC-5 model pictured on Ed Retian's site:
http://www.novia.net/~ereitan/Galler...Lockhaven.html
A different catalog picture of the CTC-5 models on my site also only has the "Lockhaven" model with the "color" decal on the safety glass:
http://community.webtv.net/stevetek/.../mailedD14.jpg
-Steve D.