Transparent Orange vs Ink Yellow

How close are they?

ΔE 22.2, loose: different enough that you should pick on purpose. Ink Yellow is noticeably lighter, more saturated, cooler than Transparent Orange.

Can I use Ink Yellow instead of Transparent Orange?

Not as a straight swap; see the closer alternatives below. Loose match (ΔE 22). Ink Yellow is noticeably lighter, more saturated, cooler than Transparent Orange.

Can I use Transparent Orange instead of Ink Yellow?

The same difference applies the other way round: Transparent Orange is noticeably darker, more muted, warmer.

ΔE is the colour difference between our two swatch estimates: under about 6 is close, over about 15 is loose. Real paints also differ in finish, coverage and how they thin, so test before you commit.