>>12947489That doesn't work as shinies were introduced in Gen 2. I'd find it surprising to learn that they created shiny palettes in the order pokemon were conceptualized.
Otherwise to answer OP's question, I'm going to say no. The shiny palette only matches the picture in the sense of them both showing yellow, but the picture makes it apparent that Ho-Oh is simply coated in yellow, presumably from legendary rainbow powers. Otherwise, the entire portion of the shiny sprite that isn't yellow fails to match that picture if it presumed to be a shiny Ho-Oh.
