As noted above, the 1rst generation looks entirely different - and is no longer supported by Scubapro. (The regs on the very short "not supported" list are the 1rst gen Air 2, the Pilot, the Air 1 and for all practical purposes the Mk 7.)
The second generation Air 2 has the familiar Air 2 shape, but has a case with sharper looking edges, and uses a metal clip to prevent the Purge cover from rotating. This purge cover has splined edges, is a little more cone shaped, and screws on the outside of the case. Internally it is also different as, unlike the 3rd, 4th and restyled Air 2's, the air barrel cannot be removed until the inflator stem has been removed. More than one has been broken by a tech who did not know the difference and though the air barrel was just stuck.
The 3rd generation looks like the 4th generation and both have a more rounded appearance on the edges of the case and the purge cover screws inside the case. The major difference between them visually is the presence of a pin to retain the purge cover on the 4th Gen Air 2. Other than that there are just very minor cosmetic or detail changes.
The current "restyled" Air 2 is a 4th generation Air 2, just restyled with a fresh look and generally very softened lines, a slightly slimmer appearance and rehaped buttons.
Forget the BS on button color - buttons are easily changed and colors between some versions overlap anyway making it pretty useless as a way to determine which version it really is.