#1: Yes, this is the way it is required to be done. (Article 200-7(c)(2)
#2:Orange is a choice for this set up. 215-8 states to use orange, or tagging or other effective means. 310-12(c) lets you use any color you want other than white, natural grey or green. The brown, orange yellow, grey scheam is so common around here a lot of people here think it is in the code.
To answer your question, Pauluk, if I understand it correctly, the individual branches are the color of the associated phase. In other words, A phase is brown b phase is orange and c phase is yellow. If you run a lighting circuit as circuit 5 (c phase) it will be yellow. If you run circuit 3 (b phase) it will be orange etc. This is not an NEC requirement just a common practice.
Nick
PS: Identification of the high leg is only required when the neutral is present.
[This message has been edited by Nick (edited 09-29-2001).]