Sorry for the confusion...let me see if I can clear this up!
If you take the information from the Two Bobs decal set (48-042) for the F-16C's from the 188th Fighter Wing/Arkansas ANG (which I believe is the same outfit depicted on the Academy picture) then it appears that the aircraft only had two colors applied. Vallejo Model Color #868 (FS 36118) which their website describes as "Dark Sea Grey" and Vallejo #870 (FS 36270) which is described as "Medium Sea Grey." The Academy photo shows a third color used on the radome but the Two Bob set only mentions two colors and the radome, therefore, is painted the lighter of the two colors - Vallejo Model Color #870. The review of the Two Bob decal set stated that the company consulted a former pilot from the unit to get the correct markings and colors.
By the way I have used Vallejo paints and I love 'em...goes on great when thinned properly and real easy clean-up. Check out the following sites -
www.acrylicosvallejo.com for info on Vallejo paints and
www.aircraftresourcecenter.com for great info and pics of aircraft models/modelling. Hope this helps and never hesitate to ask for clarification on something. It is far better to mark twice (or more times) and cut only once....catch my drift.
Good luck. Give a shout if you still have questions.
Kirby