That's quite the pretty blue color! I think it's not a bad color and it's nice to see Monstro looking very, very clean. :]
And wow, the black whale really scares me! I'd never have been able to go on that ride when I was younger if it looked like that!
I do think the Monstro in the Pinocchio is a dark blue/black, but the lighting itself is very, very dark, so it is hard to say the true color that is intended. I honestly think that a slightly darker blue (lighter than the previous and darker than the current shade) would be best, but I'm sure as the paint fades it'll turn into a more natural color.