I really like Testors MM USN colors as I feel they are almost as good as the old ColourCoats paint for matching the S&S paint chips. However, I can't help much with an opinion on LifeColor as I have not used any Life-color paints.
But...
I did put a list of reviews of various paint Mfg together awhile back in anticipation of changing paint vendors since so many of the good paint-makers "Lines" are gone. Here is what I collected regarding LifeColor.
FSM had a "review" of Lifecolor paint:
Modelwarships has some good posts about some USN colors:
A good review:
and one more that I just stumbled across:
The reviews above seem to be quite Positive about the paint. Supposedly the LifeColor 5-S color is viewed as the only real mis-match in the USN WW2 range. It is said to be too dark and not blue enough so does not match the S&S paint chip. The reviews seem to be very positive on other LifeColor paints.
WW2 USN painting is becoming a pain. MM enamel out, MM acrylics are in.. ColourCoats are out, AK is in. Enamels are going away and acrylics are about the only game in town.... Except for Tru-Color paints, a possible Heir-apparent for the old Floquil and Polly Scale. Tru-color are lacquer based and use acetone in the "mix so ventilate well!. I am reading good things about Tru-Color so far. They have a large USN WW2 color selection. They come in a 1oz and 2 oz sizes so it will be more economical than most other brands. Hey, it is even in an American measurement. ( How much is 22 ml again?)
If interested...
Tru-Color links:
http://web.ipmsusa3.org/content/tru-color-paints
http://www.modelwarships.com/reviews/misc/True_Color/trucolor-paints/index.htm
Buy 'em here:
https://www.arizonahobbies.com/United-States-Navy_c_1184.html
"We will know the model warship hobby has reached its pinnacle when Tamiya matches all the Synder and Short USN WW2 paint chips."
Nino