Fortunately, I am what you might call an entitled player. I have a copy of A&A 50th Anniversary Edition (AA50), A&A Europe '40 (E40.1), A&A Europe '40 Second Edition (E40.2), and the new A&A Anniversary Edition (NAAA).
So, for you, I went down stairs and pulled the Italians out of each box and compared a selection of units (infantry, tank, battleship, and bomber) from each collection. The following are my observations, after review under compact fluorescent lights:
Infantry - all four looked to me to be the same shade of brown. This trend would not continue.
Tank - The AA50 and the E40.1 tanks seemed to be the same shade, the E40.2 tank was a lighter shade, and the NAAA tank was of a shade in between the E40.1 and the E40.2, ever so slightly favoring the E40.1 shade.
Battleship - The AA50, E40.1, and NAAA battleships seemed to be the same shade with the E40.2 battleship seen as a lighter shade.
Bomber - The AA50 and the E40.1 bombers seemed to be the same shade, the E40.2 tank was a lighter shade, and the NAAA tank was of a shade in between the E40.1 and the E40.2, and in this case were clearly closer to the shade of the E40.1 bomber.
So, to answer your question:“Do the new Italian pieces match the color used in Europe 1940 2nd Edition? Or are they in the darker shade used in 1st Ed?”, in my eyes, the new Italian pieces in the 2017 reprint of A&A Anniversary are much closer, but not always identical, to the darker shade used in A&A Europe 40.1.
Different types of lighting, different production runs of E40.1 and E40.2, different levels of vision (no color blindness but corrected with glasses to 20/20), et cetera…