Technically no, as if it is painted navy it is still "blue"
Inevitably you will get some yahoo who says it is not, as it is now "Royal Blue" as opposed to "Cyan" or something like that.
The one thing you have to remember though, is that these are simply different shades and vibrancies of the same colour, so yes it being navy, even though they have said that they will keep it the same colour, is entirely a possibility.
This, however, is Merlin, so honestly I do not see a full track repaint occurring, maybe slight touch up in places that look terrible, but I hope to be proved wrong. Remember though, the only reason they painted Oblivion was because the Smiler next door had made it look terrible in contrast, cut corner where corners can be cut is Merlin's Mantra!!