Hi,
Yes, the colored links are a reference. There are a certain number of links between them. So, if you have the colored links where they belong, the timing is correct. Do the links have to be in position? No, the colored links are used to ensure the correct number of links exists between them.
As far as the tensioner, yes it will back off so you can get a retainer pin in the adjuster.
Please remember this is an interference engine. Once you have the chain back on and where you want it, gently turn the engine several revolutions to make sure there is nothing making contact internally.
Let me know if I can help.
Take care,
Joe
Monday, June 26th, 2023 AT 9:19 PM