I would tend to go with the latter of those for the original design, but Maxwell did almost a complete redesign of the place for the 1941 US Open. The routing stayed loosely in tact but many tees were moved slightly, every bunker was redone and several greens were rebuilt. The interesting thing is that you can go through the course hole by hole and see many of Maxwell's template holes in the original layout. Holes 1, 8, 9, 10, 11, 12, 13, 15, 17 and 18 were very similar to other Maxwell templates. Add that to holes 3, 4 and 5 with the redesign plus the other changes he made and you could make a very solid argument that the course played in the 1941 Open was largely Maxwell. The course today, though bears little resemblance as the bunkering is entirely different, all the greens are much flatter, many more trees exist and a number of holes were changed with the work in 1968 for rerouting the Trinity River. And that doesn't even take into account the pond expansion and tee lengthening that has occurred at the course.
I just saw the Hogan question. Hogan was 22 when Colonial was being built and was a struggling pro at the time. I know he and Leonard had a relationship and perhaps he helped out with hitting shots around the course to determine playability aspects of the design, but I would say that was the extent of his design input at that time. I would say he would have more likely played a larger part in 1940 with the redesign, but I know that wasn't the case. I will have to check out the Dodson book and see what it says about his involvement there.