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I figure the orange colour is intended to mean "warning" as opposed to a red colour which would imply "avoid". Since the negative trust counter is just that (a counter), and cannot take into account the actual reasons left behind, then orange seems appropriate as a warning, and it is down to each of us to go into the trust page of a given profile and read through the Trusted/Untrusted feedback + Active/Inactive flags to get a proper understanding of the numbers on a case by case basis.
The example you’ve provided is well known on the Forum, but asserting he is a scammer is not, as far as I know, correct. His profile's feedback provides information that does not imply the account being a scammer, whether we like the user or not. The new system would vouch from now on for a red trust flag to be used if this were to be a fact, with the necessary support.
Nevertheless, it is good that you mentioned here that the trust system has changed quite a bit today, as most people do not visit Meta, and therefore miss out this type of information concerning forum updates. I've just read through the, so far, 11 pages of posts on the core thread, and still need to grasp a few user case scenarios that are not completely clear yet.