The Shipping container has been painted on so called "private property."
Street view Jan 2010
It looks like a paint and run job which looks old only because the paint has been hammered by the hot afternoon sun (west facing).
Gorge Rd, Yarrambat, Oct, 2014
Someone's noticed a prominent, prestigious spot high on the hill with a captive car audience. They've painted a shitty throw-up. Another crew or two have come along noticed the lack of talent and capped the work and produced something, they think is better. Street view enables us to look back and view the history.