Question is not about the name or paint, but as a fact as you said, about the squad, it is programmed in the planet previously, that you cannot see nor have any buddys, nor to recognize any other players by their name or ship and paint.
I believe the fact that the squad event was meant to work out in these conditions, the same way as players cheated when no squad was allowed.
It would request a whole new programming of V3 planet for the squads to work and squad members being visible to each others.
In these conditions you can't avoid to even shoot a squad member by mistake.
This planet atm only works as it has been working lately.
No squads where to recognize other sq. members, no buddys visible nor their names so you can avoid shooting them, and no ship paints either for everyone appear as unknown to each others.
This requires skill in squad and perfect teamwork precision for to work as meant.
Not a bad idea for to train those skills this way, actually shows what squads really are good in team work.