It's possible that it could be that rare. I'm sure somebody else can cite the production numbers, but I doubt it's THAT rare. In my opinion, I think you're on the right track with the guess about the color. I wouldn't be surprised if it was 1 of 16 1988 Turbo Targas that were "insert color here" with "insert factory option here" and "second factory option here" with the much sought-after "made-up option here".
Posting the VIN is a good first step 
__________________
Alan
Past: '74 914 2.0, '82 911 SC Targa, '88 911 Cabriolet, '88 911 Cabriolet again
Present: '00 Boxster S
"Happiness is not around the next corner......happiness IS the next corner."
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