It's the original paint - it even has the little sticker on the chain stay saying so!
It's also the bike's best side. While it is in good condition, it does have more marks on the non-drive side, including a long scratch on the top tube.
I believe it's colour scheme FNP. I've seen a catalogue online somewhere (can't find it at the moment) with an Arcobaleno in that paint scheme.
I've not the original owner - I bought the frame from LFGSS from someone who'd bought it from a dealer in Belgium and then changed his mind.