Manage to capture a couple of still shots of the Bronzo in action. Yes, the Panerai PAM00382 Luminor 1950 Submersible 3 Days Automatic 47 mm Bronze as seen in the movie Expendables II.
So far I believe the watch has been seen on the wrist of Stallone, Statham, Ludgren and Crews. Don't know who else is wearing the watch.
Some still shots from the trailers...
You can see it on Statham's wrist.
So the question, what was on Arnold's wrist. You guess is as good as mine...