Mix 1 1/4 cups flour, sugar, yeast and salt in large mixing bowl.
Stir in Oil.
Combine warm water and saffron in small bowl.
Stir until saffron is dissolved.
Add to flour mixture.
Beat with electric mixer at medium speed 3 minutes, scraping bowl occasionally.
Separate 1 egg; set yolk aside.
Add egg white to flour mixture.
Add remaining 3 eggs and 1/2 cup flour.
Beat at medium speed 1 minute, scraping bowl occasionally.
Stir in enough remaining flour to make soft dough.
Knead dough on lightly floured surface 8 to 10 minutes, or until smooth and elastic, adding additional flour as necessary.
Place in lightly oiled large mixing bowl.
Turn dough over to coat both sides with Oil.
Cover; let rise in warm place 1 to 1 1/2 hours, or until doubled.
Oil baking sheet.
Set aside.
Punch down dough.
Place on lightly floured surface.
Set aside two thirds of dough.
Divide remaining dough into 6 equal portions.
Roll each portion with floured fingers into a 10-inch-long piece.
Braid 3 pieces together.
Braid remaining 3 pieces.
Set aside.
Divide remaining dough into 6 equal portions.
Roll each portion with floured fingers into a 12-inch-long piece.
Braid 3 pieces together.
Braid remaining 3 pieces.
For each loaf, center 1 small braid on top of 1 large braid.
Press ends together to seal.
Place both loaves on prepared baking sheet.
Blend reserved egg yolk and cold water in small bowl.
Brush on both loaves.
Cover; let rise in warm place about 1 hour, or until doubled.
Preheat oven to 400 °F.
Bake loaves at 400 °F, 20 to 25 minutes, or until loaves are golden brown and sound hollow when tapped lightly.
Cool on wire rack.