There is no reason to drill a hole in the lid and use an air lock on a primary fermenter. Just sit the lid on top.
A few years ago, one of the posters (probably at winepress) contacted one of the bucket manufacturers (Ropak, I think). As I recall, the response was that only the white buckets were food grade. Obviously, that only applies to the one manufacturer, but .....
I saw those orange buckets in Home Depot and wondered if I had a use for one. Because of the colour and the above comment, never even considered it for wine making.
If I wanted a cheap