this isn't making sense, though (if I try to extrapolate for the 54). Well, I'm not sure that I need to extrapolate anything from what you said. It still doesn't seem to apply, because no one is measuring c-t. I don't think so, anyway.
The seller says that the frame is definitely 54 x 54, c-c in both dimensions. The c-t measurement is not an issue, whether it's measured one way or another way. What I see on recent geometry charts are also supposedly c-c measurements, where a 54 tt is mated to a 52 tt. So, either headtubes have become smaller, with some additional change in geometry somewhere -- it hurts my head, but assuming that the sta and hta have remained the same for the new and older bikes, with a Colnago sta a little steeper than the hta, then the tt is bound to have been lowered for the newer bikes. The result, again assuming that the sta in a new 54 is steeper than the hta, is that the tt is going to be effectively a little teensy eensy bit shorter for the newer bike. a teensy eensy bit.