Trains with multiple kinds of items are painted based on a weighted average of the colors assigned to each item and their quantities.
For example, a train filled with equal amounts of red and green wires will be painted a dull yellow:
[(R=255,G=0,B=0) x #red + (R=0,G=255,B=0) x #green] / total# = (R=127,G=127,B=0)
This works for any combination of items and amounts without limit.