HiYup, its first display duty was suspension from the Milestones ceiling. Originally, when it was hung, the propeller tips were painted red for some reason, but were repainted after the aircraft curator was bombarded with complaints about it! I have a photo of it with its red tips somewhere.
The Tempest was in the museum when it opened during 1972 as part of the "Sydney Camm" collection of aircraft, it was in late war standard camouflage, as in my December 1988 photo below:
I do not recall it having red tips on the propeller blades. The target towing colours were taken from a series of photographs provided by the son of the pilot who flew the actual aircraft in that role in Germany. The history of the museum's aircraft can be found via the RAF Museum's website.
As an aside I first visited the museum just after it opened in 1972 (the linked two WW1 hangers at the time), it was an official trip from RAF Halton where I was an apprentice at the time. Later in life I became a volunteer at the museum and have worked there since 1993 doing guided tours and also in the photographic collection office (Covid permitting).
Mike