Oh those Frisians! (It is believed "Frezon" is a derivation of "Frisian" when my ancestor Pieter Frezon landed on US shores in the 18th Century from Ghent in the Frisian region of the Netherlands. He fought for the US in the Revolutionary War.
The Phantom footage with no explanation left me confused as I thought that this color footage of Phantom had already been discovered.
According to the good folks at Nitrateville I was mostly correct. The color Bal Masque sequence was rediscovered years ago and has been included in many video editions since then. However, the first 50 seconds with the ballet are considered "new" footage that has not been seen in years.