Vic 20-5647 - Trying to list the earliest colored nipper labels in my previous comment, I overlooked 20-5675 by Eddie Fisher, where W.B.lbl gives the Billboard text on the design change. In this 20- series, that is the 2nd occurrence of the new label. The original label of 20-5739 has the small uncolored nipper, but another pressing has the colored nipper. Maybe these are from different pressing plants?
Vic 20-5647 - images added (incl. clearer A-side). - Apparently this record was selected to introduce the new colored label design on 78 rpm. It is not known with the circle label and also Disc Jockey copies, very common at the time, are not reported. In this series, the last circle label release is 20-5750 (May1954), and the first colored-nipper issues after 20-5647 are 20-5748 (Eddie Fisher), -5749 (Perry Como), & -5752 (Tito Puente). Vic 20-5739-46 have circle labels and 20-5753/56-57 have nipper; 20-5743/51/54-55 unknown (only known from dj copies).
This would appear to be the earliest 78 (and 45) release with the four-color Nipper design; its inaugural rollout was announced in the Dec. 26, 1953 issue of Billboard.