Am in China right now and just saw the toys and DVD in the local supermarket. Bought the DVD containing the first four episodes. Will updated you guys when I get home to my real comp in a few days.
Roughly correct, they are based on the classic constellations. Not sure why The turtle is blue but yes, Qinglong can be translated as either green dragon or blue dragon. "Qing" can mean either, depending on the context.
the name "神兽金刚" Shen Shou Jin Gang or literally "God Beast Golden (Metal?) Armor (literally "firm" but am guessing it means golden armor?" The "Gang" character is also combined with "tie" or metal/steel as part of Iron Man's name in Chinese
Then again "jin gang" can refer to "無敵鐵金剛" which is the taiwanese name for Mazinger Z and Great Mazinger. Wu Di Tie Jin Gang can mean literally no rival metal gold firm or probably "invincible alloy knight" or something