Yellow might be a colour associated with caution but don't expect either rider to approach this race without anything but bloody-minded determination.
For Waddell, it has already been a bizarre buildup.
He spilt from Appellant after the running of last Saturday's Matamata Breeders Stakes (1200m) and was knocked unconscious, putting his participation in the Derby seven days later in jeopardy. Under racing's concussion protocols, Waddell had to pass a concussion text before getting clearance to ride again, which he did before Wednesday's Lowland Stakes meeting at Hastings.
Probably not the ideal preparation for a jockey riding in New Zealand's most prestigious race.
But Waddell is a gun. He possesses one of the strongest wills in the jockeys' room when his mind is fully in the game, which it's sure to be today, and he has utmost confidence in his mount.
Waddell committed to Vernanme for the Derby after the O'Reilly colt had run second in the Levin Classic at Trentham in January. And he didn't even ride the horse that day.
And his excitement level couldn't have been any higher after guiding the Kevin Hickman and Vern Trillo-raced brother to Australian Derby winner Shamrocker and Auckland Cup winner Rock Diva to his Avondale Guineas third placing.
That was Vernanme's first outing since the Levin Classic, his first run past 2100m and it came after the colt's participation was thrust into doubt after he pulled a plate on the float trip to Ellerslie.
His shoe was removed, his hoof iced and then he was replated and he walked out sound.
But Waddell still reported afterwards that Vernanme was "on one rein" in the home straight, perhaps indicating there was still some lingering soreness from the incident.
Two weeks later, Vernanme heads to a Derby completely sound and sharper for his first middle distance run. The horse he was chasing at the end of the Avondale Guineas is now the New Zealand Derby favourite, Surely Sacred.
Roger James tells a charming story about his former apprentice Colgan that perhaps illustrates why the 43-year-old Matamata jockey has established such a formidable Derby record.
In 1995, Colgan was an 18-year-old apprentice about to have his first ride in the Derby.
Put yourself in his shoes: your biggest opportunity on New Zealand racing's biggest stage in New Zealand's biggest race.
Nervous? Anxious? Excited?
If he was any of those things, he didn't show it to James on the car ride north from Matamata.
Colgan slept the whole way. Then he put his mount Roysyn to sleep in running before setting him alight at precisely the right moment to guide him to Derby success.
It's a formula Colgan will follow again today. He was forced to make an early run aboard Surely Sacred in the Avondale Guineas and the Rock 'N' Pop gelding responded with a sustained sprint, reeling off the best closing sectionals in the race.
He had already shown a terrific turn of foot to win the Auckland Guineas (1600m) at Ellerslie on New Year's Day so it's evident he has the best acceleration and potentially the best stamina of any horse in the race.
Adding Colgan into the mix, it's probably the right recipe for Derby success.
But in 16 other corners are a colourful mix of three-year-olds all getting their shot at Derby glory.
In the tangerine, In A Twinkling, who split Surely Sacred and Vernanme with a never-say-die second in the Avondale Guineas, and the quietly achieving Prise De Fer, crack rider Opie Bosson's choice for the race he has won aboard Mongolian Khan and Gingernuts in past years.
More Wonder returns to three-year-old racing after mighty runs in the Thorndon Mile and last week's Haunui Farm Weight-For-Age Classic against the best older horses in the land and he commands respect.
On from the same Otaki card, Platinum Invador, who cruised to a lower-grade win after reeling off the quickest last 400m and 200m splits of the Avondale Guineas despite never having a fair crack at a clear run.
And there are other contenders waiting in the wings but whether they are packing the punch of their better fancied rivals has yet to be established; maybe they are waiting for the biggest stage of all to unleash their knockout blow?
