I know it's a corporate livery, but why is it needed? The normal reason is Brand identification but what need is there in this case? It's not as if I can say, "I think I'll catch a V Line train today and a Santa Fe tomorrow and an Atchison and Topeka the day after." We're talking about a passenger rail monopoly.
The changing of livery is a complete waste of money because it serves no useful purpose whatsoever. It's money which could be put to far better use.
I can understand repaints and even the changing of the livery at overhauls. which is the most appropriate time to do so, thing to me though is why the picking of colours such as the purple which really makes it look toy like.
In the past Vic Rail and other brand names have painted their loco's in different schemes that have looked quite ok, and from any outsiders view much better than this scheme. However, looking at the photo of the Y class which is used on shunting duties and is quite bright, would be a very good safety colour as its very visible.
Outside of the yards though, the high use of yellow front ends does provide a more visual impact for motorists and even lineside workers, but they need to be kept clean for the benefit to be affective.