I have an Orange PPC412 and a Recto 4x12. I prefer the Recto 4x12.
The Orange 4x12 produces more upper bass, which some will interpret as a warmer sound, however it tends to mud up the final product a fair bit.
The Recto 4x12 produces less upper bass and more lower bass, which sounds clearer but can add some boom if you're not careful with your bass settings. That said, the Mark V is a pretty tight amp to start with so the bit of extra sag can help fatten the response up a bit.
The Orange 4x12 is faster tracking with less sag, but it doesn't have the 3D effect that the Recto 4x12's looser tracking produces.
The Orange 4x12 also has it's mid spike sitting up a bit higher in frequency, which to me makes it sound harsher than the Recto 4x12, which is a bit smoother in comparison. The Recto 4x12 also seems to have more detail in the midrange... probably because the mid spike is detuned down to a different frequency.
Long story short, I feel the Recto cab produces a clearer, more aggressive sound than the Orange cab, which tends to sound a little warmer but less detailed.