This is not only one of my favorite kits (I have three) but one of my favorite designs, seems like the most realistic and plausable from the series.
As far as colors, do whatever you want the two of mine that are built are a deep green and a almost black purple, I think the blue you chose is very fitting, looks really good.
One criticism, your weathering seems very overdone. The thing about these kits, thats majorly different from armor kits, is an armor kit is in 1/35, this is in 1/100th, hold up the pilot to some of those paint chips, they would be the size of his head o.O
When your working in this scale, you need to either tone down the weathering, put it in logical spots and scale it correctly, or damage the kit to give reason (dents around chips and such).
Check here for some really good tutorials on it http://codyscoop.com/ht-building.html