First of all, the correct translation for orange is "jingga" And no, that would have different meanings if you translate it.
"That orange newspaper" literally means "Koran jingga itu", you refer to an object which is a newspaper with orange in color
If you say "Koran itu jingga" you actually make a statement that the newspaper is orange in color
See the difference? In bahasa Indonesia little different could have different meanings. Just like "pisang goreng" means "banana fried" (noun) Whilst "goreng pisang" means "to fried a banana" (verb)
Hai! I cannot say this is common in Indonesia and rest of the world. Just the page color of a newspaper.
In Indonesian, I think it can be possible to find "koran warna oranye" or "koran warna salmon terang".
"Financial Times" is an example. (at least at the moment)
From Wikipedia Indonesia: https://id.wikipedia.org/wiki/Financial_Times
And also, "koran oranye salmon". https://beritagar.id/artikel/berita/sampai-kapan-koran-oranye-ft-bertahan
Selamat belajar! :)