Likely would have had the same new face mold as Rockin' Romance Jem (as the Rockin' Romance Jem doll was a prototype, we still can't definitively say that this face mold would have been marketed, had Jem continued in 1988).  Again no flashing, earrings, Jerrica outfit, tape or neat little extras.

Gotta love those clear sparkly shoes!  She appears to be tan, much like the Rockin' Romance Jem prototype was.
Though the red parts look like sleeves, I believe it's a boa wrapped around her shoulders.

Interestingly, she was also featured in the 1988 Hasbro France catalogue (same photo), under a name Jem fans already know - Hollywood Jem! It also looks like she would have come with her own perfume.  It is still unknown as to whether this doll was ever produced or could be bought in stores in France, or elsewhere for that matter.

Here is the text and translation:

Hollywood Jem
La thème de cette fabuleuse nouvelle Jem est HOLLYWOOD.  Elle porte un ravissant ensemble très 'première,' de longs cheveux blonds, et des boucles d'oreilles joaillerie, des chaussures originales, typiques de Hollywood et pour la touch finale: son propre parfum 'Hollywood.'

Hollywood Jem
The theme of this fabulous new Jem is HOLLYWOOD.  She's wearing a ravishing ensemble very "premiere", long blond hair, jewels, original shoes, Hollywood style and for the final touch her own perfume "Hollywood"