Saying this is somewhat risky without looking at the data, but in my opinion, using one of the narrowband images as luminance (OIII in this case) doesn't seem a good idea. Adding more luminance always weakens the chrominance, and since it is redundant data in this case (that is, the same data already used for two of the chrominance components), it has no real benefit in terms of noise reduction, either. Better control should be possible with histogram and curves transformations (L curve to control lightness and c* or S curves for color saturation) and a suitable noise reduction.