While your suggestion is a good one, I'm going have to say a straight up recoloring won't work unless one very important thing is addressed that bugs me about the Masquarade, the way the bangs layer. You can always tell when someone has them on because of how they sit on the head and that only looks good with two or three hairstyles. What they need is a retooling of the item with better fitting bangs and maybe more bangs that do what the bangs from the Marionette doll does and integrates with the hair in several different colors. Different lip shapes is a good idea someone mentioned with lips like the ones from items like Scarlet Mist or Sandman in several shades.
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