I did this custom in November 2010, a year ago from this post. I originally was going to make him match Royal Soundwave's color scheme by having parts of Ravage's armor the same blue. When I started, I quickly decided that was a no go.
I opt'd to go for more of the classic look with small minor gold enhancements to give the figure little bit more contrast and an uber feel! In the movie version, Ravage had these fish fins on both sides of his head. I believe those things took a lot away from the character. It made him seem more like a one eye'd angler fish than the G1 panther he originally was supposed to represent.
With the relation I had between the original ROTF Ravage and the movie "Finding Nemo", I had to do something. I removed the side face fins from the original figure. Even though the figure still has one eye. I feel the end product so far, significantly made him more of a homage to his G1 counter-part than before.