i dont think the question was whether to call the police or not, it was whether he should have drawn and started blasting the second he saw what looked like a gun.....orange cap or no orange cap i would have had my pistol out, but i dont think i would have shot first. Plenty of people have been killed for pointing neon green water pisols at cops tho.
Ive been in a couple situations where guns were pulled out and pointed at people in anger, once i was unarmed, i felt helpless and grabbed the people close to me and ran away. The second time, i was at a backyard party and i was armed, the gunman was 10 yards away and pointing a shotgun at a several people, i was to his blind side. I took cover by the corner of the house and told everyone close to get the F out (its surprising how many people had no idea what was going on, even when the gunman fired the shotgun into the air). The shotgun guy was to my left and i had my gun in my right hand extended down my leg and my cellphone in my left hand calling the police. I didnt feel i had the right to shoot even though i was close to see the gun being pointed at specific people and the BGs finger on the trigger. i knew the police were on their way and if he had started gunning people down i know i would have lit him up, but i waited. I'm glad i did, less than a minute later i heard the sirens. I slipped my gun away and the shotgunner rabbited. I gave a detail to the cops, and that was it. Nobody got hurt. My life was never in danger, so it wasnt the same situation as the drive by airsofting, but, my rule is if i see a gun being pointed at me or other people, my gun is out.
Calling the police should occur within seconds of your gun being drawn, whether you fire it or not. As a responsible gun carrier, you are not a out there to be a cowboy. Always be smart, protect yourself, but always let the real gunslingers handle the heavy stuff.