What I did was a minor adjustment...I originally planned to cover up all of the orange, but due to the orange barrel being pinned into his shoulder, I decided to play it safe for now and just paint the orange on the fusion cannon black. With that done, the remaining orange doesn't bother me as much now. Pics: I wanted the paintjob to be a little smoother, but I think that's as good as it's gonna get.
The more I fiddle with him, the more his colors are growing on me. I do plan to get a second one and go with a metallic silver paint job closer to the G1 toy's colors.