First of all, I just checked, and all models in the Blood Angels are in their PROPER place. 
Reusing the space marine files seemed like a good way to reduce file size.
Sounds like a good idea, but eventually it is not, because you only save DISC?STORAGE space. And not game memory space.
Because the engine "renders" the textures of each race in real time (WTPs).
Even if you make a game with 8 Space Marines the game mem (which is MUCH more important then the Disc Required Storage Mem of course), renders the Space Marines textures EIGHT TIMES, each for each players, loading 8 Space marines players, INDEPENDENTLY.
So again, by reusing models from other races, you DO reserve memory, but only because those models are NOT rendered for YOUR Army Colour selection -> and this is actually the reason for the COLOUR BLEEDING.
Space marine vs space marine doesn't cause color bleeding, so I don't understand why blood angels vs space marines do.
Of course they do not, the reason as I said above, is that for each player, the textures are rendered anew.
In short:
NEVER INHERIT!!
NEVER re-use models!
