Showcased here is an unpainted Green Arrow first shot. As you can probably tell, most of the figure is cast in nonproduction colors. First shots, sometimes referred to as test shots, are used to test the steel molds prior to mass production. The color of the injection molded plastic was irrelevant since the figure served only test purposes. Typically nonproduction color first shots are more desireable to collectors.
This test shot exhibits copyright dates and footholes. The copyright information and foot holes are typically etched into the steel production mold upon completion of its testing. Since the footholes and copyrights are present, we can assume this piece was from a final test batch created just prior to the beginning of full production for Green Arrow.
Above is a comparison with the fully painted production figure. The second series was comprised of more obscure DC characters than the first series. Green Arrow is certainly a great character and he transformed nicely into a detailed, action packed figure. I think this diverse character line up has made the Super Powers line one of the most memorable super hero toy lines of all time.