Upgradable, certainly, it is difficult to determine any accurate color – especially one so subtle as this – via computer screen. But, from what I can see, the diamond looks to have a lovely, subtle pinkish brownish color. And, it seems to be a beautiful stone as well.
If the stone were lively enough, I'd purchase something like this as well (a-hem, assuming my

-y bank was up to the task).
The diamond reminds me of David's R2620, which GIA graded L, Faint Brown. The color on R2620 became more noticeable, and even looked pinkish, after the stone was set in rose gold. Perhaps your jeweler should try setting the diamond...
As for the rest of it, I agree with OMC. Stick with GIA. Obviously, your jeweler would like to get the most money possible for the stone, and he/she knows that any mention of "pink" or "fancy" will increase the stone's value. But, as OMC says, it will never be a fancy, and the cost of reevaluating the stone just to have it called faint brown or similar, probably isn't worth the effort. I doubt they would call it "faint pink," but, I suppose anything is possible.
If I were the jeweler, I'd set it with high-color white sides or halo and use rose gold around the center diamond. Then, ask a sale price based upon the overall quality, beauty, rarity and desirability of the entire piece, not just the report on the center stone. A custom piece with top-shelf craftsmanship and exquisite or unusual design would be my preference.
If I were a buyer, however, I'd try to purchase the diamond loose, based upon the report calling it O-P.