Saddle shell. I have seen three different photos of the same shoe, capturing the color in different shades under different lighting conditions. The actual color is more towards mid-brown, like the color of the captoes in the picture. My hope is that, barring any major changes in feet size, that this pair of shoes will last forever. Prices for shell cordovan probably will have to rise steeply in the coming years, if at all obtainable.
All three are probably actually pretty representative of Carmina's saddle shell. Everyone outside of Alden seems to have a huge variance in what they receive from Horween from batch to batch with the same name, hop over the Vass thread for some more examples.
As far as the boots are concerned, what are you wanting them for? Carmina will make better boots for wear with suits, et al, but if you're wanting them for wear with jeans, etc, they'll do nicely.