Well, I've seen that bike available new in red, blue, black and lime green. I'm partial to 'em in red, but the blue looks nice, too. I'd be tempted to just keep it (or repaint, or whatever) blue.
Finding replacement? Hmm..... gonna be tough, because the production / import #'s are so low and it's an 'off' brand. Keep an eye on ebay and/or the craigslist national search engines. Maybe surf around for some more 'Lifan' sites.
Good luck,
Kirk