That's special primer for aluminum, it will be regulation OD (olive drab), when finished. The early model P-38s deployed to the ETO were painted OD, only the later P-38s were left natural. This particular plane is being faithfully restored in every detail, including the guns and the turbochargers. The guns were actually restored in Nashville, near me.
Yes, it's an E model, but it's the type of intercooler installation that determines the shape of the cowls, not the oil coolers. All P-38s from the YP-38 to the P-38H had a bizarre type of intercooler that was actually duct work constructed of corrugated metal just inside the leading edge of the wing leading to the outer wing tip and back from the engine. This intercooler system was designed when the expected horsepower potential of the Allison V-1710 was thought to be around 1000-1200. It turned out to be entirely inadequate. Beginning with the J models, a core type (similar to a radiator) intercooler was installed, and these actually proved to be too efficient, and had to be modified. The change to the core type intercooler is what determined the shape of the cowls.
Many of the J and L models that were sold as surplus and raced had the turbochargers and intercoolers removed, and were fitted with the early model cowls that were more aerodynamic. The B-2, B-33 and B-34 GE turbos are expensive and difficult to maintain, and so many P-38s have been stripped of their turbos. "Glacier Girl" will be the only P-38 flying using both the original turbochargers AND the old ductwork style intercoolers, if the plans have not been changed.
The guy that owns the plane is about 70 years old, and he intends to fly "Glacier Girl" to Britain, and complete the "Operation Bolero" mission "Glacier Girl" began 60 years ago. Insurance company be damned.