As others have said, the rear canti mount rules out a c16 or later Clockwork.
I had one of the very first c16's in that colour, very nice. The chap I got it from wanted a Clockwork but was ordering just as stock ran out before the c16 came along so got his c16 from the first batch. It's true the c16 arrived for the 1995 model year but was available in later 1994 so some will have 94 serial numbers. The p7 first arrived in 1993, not 1994.
As for the colours, orange offered various colours each year. By later 1994 they'd stopped offering the orange/white fade (from memory it's because they took the painting in house and switched to powder coating). I don't think the p7 every came in o/w fade, that's not to say you can't do it though.