If your ints are 32 bit then the first 8 Fs shouldn't make any difference, as for the rest of it, in this case using + (add) is the same as using | (or) because each of the 8 bit colour values don't overlap and both ways have the effect of writing the 8 bit value into the appropriate 8 bits of the result, and the red bits are shifted by 8 bits twice which is the same as shifting by 16 bits.
It used to be the case that OR was faster than ADD but I don't think it makes any difference any more.