I would say everyone can pick a chapter and do whatever they want with it. They can make the pages as realistic or as dreamy, as consistent or as random as they like. A fan project such as this should be a way for each of us to realize our version of a colorized manga. One great big abstract hodgepodge. But that's just my idea. Let's see if anyone else is interested and what they'd like to do.
It would be nice to use scans of the Perfect Edition since those would be of the highest res. I was able to get Acts 1-6 of Miss Dream's scans off the Wayback Machine, but I don't have the rest, so either someone else would be willing to contribute those or we'd have to use scans from MD's scanlation of the first revised manga.
I'd also say that, if possible, text should be removed from the pages first since they seem to throw off the program a bit and you just end up with smudged looking text anyway.