Actually stripped red and blue would be right. Apparently the first episodes were coming with the French version for the intro (which is kinda weird because Hungarians tend to dub everything) then it was switched to Moonlight Densetsu with actual dubbed Hungarian lyrics.

The explanation could be that the commercial broadcasting (we had TV broadcasting before but it was all state owned channels) started in 1997 in the country and Sailor Moon were among the first series for kids they aired (same month when the new channels started). I guess they did not want to make the effort to create a Hungarian version for the intro without knowing that it would be a success (it was).