So going through the Menu on the 4 day demo it looks like you can have custom liveries on your Car, Helmet and Suit and any custom computer made decals you want to use must be in SVG format in other words a Vector based graphic that you will have to upload to your own online library at
www.gran-turismo.com and have access to through the game's Livery Editor. I'm guessing they're going with the SVG format instead of jpeg due to SVG taking up lot less space in terms of hosting when compared to jpegs. SVG is also easier edit colorswise and shapewise without losing sharpness. So blurry photos of your favorite Energy Drink logo will not be usable. I think this is smart on Poly's end since it pretty stops people from using low res photos and keeps the cars looking clean and sharp as possible. You will not be able to upload any custom computer created decals in the 4 day DEMO only UNTIL the game launches or maybe later if that feature is not ready for launch but I'm sure there will be a big day 1 patch to enable stuff like this. You can however make and save any Livery you create with the pre made logos and shapes during the 4 day demo and use them in online races but I'm not sure if these will carry over to the final game. I think they might.
I noticed that any pre made official company sponsor logos like AEM, Penzoil, Puma, Shell, Brembo, Belstein cannot be altered in color or be distorted only enlarged or reduced in size but not out of shape. You can however change the color and distort the shape both height and width of all the pre made shapes and patterns that are in the library. There are also special logos and colors that you can unlock through completing certain races, courses and through the Mileage Exchange. I'm guessing any custom decal players upload will not be color changeable in the editor unless you maybe make them pure white. That is something we will not know till the full game launches.
You can have a library containing your favorite photos, videos and liveries that can be set as Open To All that lets others search and download through the Gran-Turismo website. I'm not sure if there is a way to trade with a specific person other than adding them to your friends list and doing it that way. Maybe when the full game launches there will be that option. Apparently there will be a limit of of 1000 things that can be saved to your online library.
You can have you name put on the car but it will be displayed as your PSN id name and not a name you can make up. Also the flag of the country your playstation is set up as will be shown next to your name.
There will be a a companion app to access your online library and the online manual says things like Scapes photo can be saved onto USB drives and then deleted from your library so you can then delete them so they don't take up all your online library space. I'm note sure if this also applies to videos and custom liveries but that would also mean you can have thousand of your liveries on your PC without having to worry about them taking up your online library space as well.
Also a bit about the Scapes photo mode, as of now it appears there are about 1017 locations from all around the world to choose from and can be sorted by Country, Time/Weather and Genre.
Looks like GT Sport will have one of the most options when it comes having the players customize their Car, Helmet and Suit Livery designs. I think I will spend more time designing than playing GT Sport.