Not exactly sure I understand your question, but let me try.
Are you asking about the foot or the horse - the reason I am confused is because I don't have a Sapherson book that shows King James II's Lifeguard (horse), but Sapherson and McNally BOTH have the Irish Guard (foot). I'll answer both...
In C.A. Sapherson's
William III at War, Scotland & Ireland 1681-1691, he shows the regiment of foot with the royal banner which is the first set of flags on the sheet. This seems to fancy for a Jacobite regiment of foot and might have been carried on parade, but probably not in battle. I used the flag for my
King James II vignette. The Robert Hall version is represented by the second set on the flag sheet. The third set is for additional flags in the unit (many units carried more than two flags) or to head up the second battalion on the wargame field to help distinguish them. Sometimes flags in multiple battalion regiments were different, but we don't have enough information on the details so I simply presented a variant.
In Michael McNally's
The Battle of Aughrim 1691, Robert Hall shows the same standard as the first one on the sheet above, which would be for the first troop. One difference is Mr Hall's standard in the plate appears red in the book, but I attempted to make my crimson as all of the accounts refer to it - kind of like the argument about facing colors of the Dutch Blue Guard, it's something not worth worrying about, but some flags are listed as crimson and some as red by the same authors, so I tried to make a distinction.
A second difference are the cherubs supporting the crown. In Stephen Ede-Borrett's
The Army of James II (set before the Glorious Revolution, but there is no reason to believe the king changed his standards), he does indeed mention cherubs on the standard of the second regiment, but states this was the only regiment that had them. The other flags on the sheet above represent the second (white w/cherubs), third (yellow), and fourth (light blue) troops of the regiment. The fifth flag on the sheet is the Scots Troop (dark blue) which was disbanded in 1689. For that matter, by 1690 there are only two troops of Lifeguard mentioned...
Whew! Hope that helps...