If you get the headbadge off you'll find out what the original color was under it.
I just use a fine flathead screwdriver. Clean the slot of the screws out carefully and you should get it. They do rust in there a bit. The screws are special self-tappers so try to save them.
New badges and screws are available but why spend the extra money? Removing the fork will let you spray PB BLaster or whatever on the inside of the screws, and that will help a lot in removing them. Also put the screwdriver on them and tap it gently to start freeing them up.
Looks like it is a good candidate for a blast and repaint, new decals, new seat, and ride it!
--Rob