Ah yes, I had forgotten about that. It's been a while since I did this and was just working with it again recently and thought I'd post it. I think initially I had used your technique but in my application the user can pick from a list of channels to plot and they can turn those channels on and off, so frequently I would get two lines with the same color.
Also, now that I'm thinking about it, I'm partially color blind and I couldn't find a set of hues that were distinct enough. In my solution, I can set blue and red as the first two colors and they are very different to my eye. But that's more of a personal preference thing.
So I guess they are similar solutions with a subtle difference. Thanks for the reply!