Ok, here it is (per request)...This is how I color.
PLEASE NOTE: This is probably incorrect - there is probably a much easier way to do it, but as I am self-taught in Photo Shop this is all I've got to offer you.
Feel free to ask questions, leave comments, or if you have a better way of coloring or any suggestions, by all means...
Paleo-Shark: Stethacanthus - inspired by Tim Bradley
Background Image: [link]