Prior to the launch of JWST, Spitzer/IRAC photometry offers the only means of studying the rest-frame optical properties of z>7 galaxies. Many such high redshift galaxies display a red [3.6] - [4.5] micron colour, often referred to as the IRAC excess, which has conventionally been interpreted as arising from intense [OIII]+Hbeta emission within the [4.5] micron bandpass. An appealing aspect of this interpretation is similarly intense line emission seen in star-forming galaxies at lower redshift as well as the redshift-dependent behaviour of the IRAC colours beyond z~7 modelled as the various nebular lines move through the two bandpasses. In this paper we demonstrate that, given the photometric uncertainties, established stellar populations with Balmer (4000 A, rest-frame) breaks, such as those inferred at z>9 where line emission does not contaminate the IRAC bands, can equally well explain the redshift-dependent behaviour of the IRAC colours in 7<z<9 galaxies. We discuss possible ways of distinguishing between the two hypotheses using ALMA measures of [OIII] 88 micron and dust continuum fluxes. Prior to further studies with JWST, we show that the distinction is important in determining the assembly history of galaxies in the first 500 Myr.
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