If my eyes are working correctly, Taki had pink tights in SoulCalibur and SCIV.
The Dreamcast handled color odly it would seem. Taki was clearly wearing red in the arcade version of SCone. Ive also seen many a bad TV interpret the Dreamcast version of Taki into red as well. As for SCIV, clearly her default color is red, but they spiced it up with their kick ass lighting & materials engine that just made it go from red to holy shit silky insanity red (which is flat out awesome and IMO the best look she has ever had peroid).
Secondly, everyone again keeps bringing up Taki's chest size. Officially she is a Japanese "E" which is more like an American "DD". Her in game look has never been over the top, her conceptual art has never been over the top. Just look at my avatar, her size is perfectly matched for her frame. It was when SCII hit they decided they could market the hell out of her chest and went berserk with the promotional art. I personally just wish they would stop making her bodysuit conform to each and every crack. It was perfect in SCone, it realistically hugged her curves, it didn't dig into them. SCone's more realistic conformity with SCIV style and materials = perfection in costume design.
Anyway, we can likely assume that this new Taklet will now hold the rank as the overall fastest character in the game (though Im sure if Taki is included she will still have some Mekkimaru 8 or 9 frame goodness), if done right Taki could be included with a style that is mix of speed and very flashy power moves fueled her ninjitsu arts. Consider that she destroyed a castle and the Egypt stage in SCII and we have yet to see some real destruction used in game. That presents truckloads of potentially new moves. Hell, they could have ran with new concepts so far that they felt her old move set was simply obsolete, but instead of throwing it away they offloaded it to her disciple.
Speaking of Mekkimaru, we can assume from the art that the disciple does not have it, and it's unlikely she has Rekkimaru either. So, taking this further, we can consider that Taki's style has indeed been split. The disciple will focus on more traditional ninja arts. Taki, now either in full control of, or fully possessed by Mekkimaru, could be focuing on ninjitsu arts mixed with parts of her old style. In gameplay terms, a Taki style that is all about possession, bombs, and big damage. Another that is about chip and poke or is perhaps more bulldog centric. We will certainly find out a lot this weekend...