Hi, I'm the owner of the second T35S in that picture, and yes I think that you are correct re the exhaust pipes, I got the bike from my late step father, who bought the bike from Mount Gambier, I know he had those pipes made up, but as for the paint job, it's exactly how he bought it.
I have always been a bit confused whether the paint job was correct or not, as one guy from the Bay to Birdwood says its exactly how he remembered it, but I couldn't find any pictures on the net of similar styles !
Any feedback I can get regarding this model, and if it is correct or not would be appreciated !
I was thinking of selling the bike, but now I am thinking that I would restore it to its original condition and style !
Cheers Tim.