So if my math is good this AM, that would make it about 1947?
Is it some kind of candid photo or is it a more formal portrait kind of thing?
Color prints where kind of new at that time and usually reservered for more "important" images like portraits or some such, not snapshots. Also, a lot of the "color" images where actually hand tinted, not real color photography like we think of today, and since they where more expensive again usually saved for the more important images.
It has been my experience that usually color images do not fade to yellow (black and whites are more prone to do so) they seem to go to a reddish color. The hand tinted ones sometimes fade back so that the color remains even tho the image behind it is going away. Also remember that many of the hand tinted ones where done on a black and white image that was sepia toned so the image might have that kind of color to it.
So the answer to your question is no!

Hope all of that does help somewhat.