I can't remember exactly the Oz system but I am pretty sure once you've passed the flight test and the paper work is ok then you can go and fly. I can't remember how long CASA took to get it all sorted but it isn't as long (or as expensive) as the CAA.
The ATPL is a rather boring green colour. Same colour as the Australian licence. The Aussie lic folder is the same one for all classes of licence and is cloth/plastic covered.
6 weeks appears to be the go with the CAA at the moment. Checkboard passed his LST on the 737 for his ATPL and went round to the CAA immediately afterwards. That was 3 weeks ago. He rang them yesterday, they are "snowed under" and will take another 15 working days to get it sorted.
Incredible.
Oh, Trudy's pretty good at Gatwick (CAA). She's pretty helpful. I bet they've moved her on.