Nice car.... Prorbably, i don't know
OT: when CM displays that when trying to generate previews (via cm showroom, even if ks style) instead of just refusing to make them, and the car will also show blue on the cm showroom (when installed on its content folder), it means an encrypted model allows you to make previews or be seen on cm showroom, but your CM is outdated and misses a key for that car.
If you use the current beta 0.8.2226.37393 (x86), it should work for most recent stuff. You'll have to allow updates to untested versions right on CM, because it's not available on github.
I just bothered to check that car for you before binning it, and it'll show fine on CM showroom/ cm showroom generated previews, allowing to create newer ones. But given that you're even displaying the AC logo, I presume you're trying the default showroom to create previews (ksPreviewBuilder.exe), or just opening it via vanilla showroom.exe, where decryption won't ever be available. CSP is only injected over acs.exe, not showroom.exe.
Bellow is an example of a ks style preview freshly generated via cm showroom, as the encryption on that car was set to allow it:
No, it's not a perfect match to vanilla generated ones, but should be close enough and much faster to create too. CM showroom will also work as usual to inspect the model, find dds names to dev a skin, but won't let you extract files (or see some obj/mat parameters, for that you have the obj inspector ingame).