If anyone had any doubts on which colour belongs to which version, I have found citation on the official Topware website:
http://www.topware.com/en/381,two-worlds-ii--velvet-game-of-the-year-edition-coming-this-october!.html
They clearly state that the PC / Mac versions will have a black velvet case, and the console versions will have the lavish red velvet case
They also mention that this GOTY version of the game will also include the Pirates Of The Flying Fortress expansion pack