If you label the regulators and rely on that, don't forget that you are making the information chain longer, which increases the chance of making a mistake. So if you mark the regulators as well as the tanks you MUST double check that you have put the right regulator on the right tank.
It would be nice if you could test the O2 content direct from the regulator. The main problem is presumably to obtain a constant flow. I wonder whether you could perform a reasonable double check by simply taking three breaths and then blowing into an oxygen meter? Would there be problems with moisture? Obviously you will absorb some oxygen and you might still have a bit of residual gas in your lungs so the reading wouldn't be exact, but it would be close enough to identify a serious error.
Mark