Browning in recent years released an 1886 (lever action) gun that is a 'Limited' edition with a silver receiver and engraving.

Did they ever release a similar version in the 1885 single shot?

I've seen some with engraving but they are blued, not silver.

Browning owned most of Winchester's patents as you probably know, when they expired...Browning did not extend them....in 1986-7 they re-introduced the 1886 45-70....the gun you speak of is called the "High Grade" version with coin silver receivers, they also made some blued versions with plain wood and no checkering called the standard model....the High Grades all have super nice wood with checkering and engraving with gold enlays and coin silver receivers (1 of 3,000)...made by Miroku in Japan-(they made a few as the Montana Centennial)-....I have several of each in the High Grade version....Same with the model 71 Browning in .348...rifles, carbines both in High Grade and Standard.....model 53 was blued only, but had super nice wood and was called the DeLux....1892 was a plain Jane...Model 1895 came in standard and High Grade both.....with several chamberings...ALL OF THESE GUNS WERE MADE IN A SHORT RUN DURING THE LATE 1980'S........Except the model 53 which was made in 1991-2.......

The Model 1885 started as the Browning Model 73 (before the patents expired) with a pistol grip then in 1985 they changed it to the model 1885 or model 85....(which looks more like the original High Wall) the two I have are model 1885 straight grip's...
Browning did not manufacture the 1885 in a High Grade version with a coin silver receiver...In later years they came out with numerous variants, black powder variant, hunter variant and the Centennial type versions with engraving and some gold accents, usually with someones picture on the side, i.e. John Browning, Bill Cody.....etc.

Thanks.

Is an 1886 more preferable in a 26" or 22" barrel?

All the 1886's by Browning (High Grade) have the 26" Octagon and it is a tack driver, that is the rifle...the CARBINE with a barrel band has a 22" light round barrel.....very light for a 45-70-405- IMO.....the model 71 has 22 and 24 inch also, mine is the 24" rifle...the 22" model 71 -(1886 action with a pistol grip)- is also called the carbine....

I prefer the rifles with the longer barrels....out West here anyway....longer range guns....the carbines are too loud and too light barreled (round) IMO for the heavy 45-70-405....at least if you load to 1800 f.p.s. or more.....