We consider the problem of resource allocation for multiple classes of traffic in a substrate network with DaVinci architecture. According to DaVinci (Dynamically Adaptive Virtual Networks for a Customized Internet) approach a single physical network can support multiple traffic classes with different performance objectives by means of multiple virtual networks constructed over the physical one. In this context the problem of bandwidth allocation is a conditional maximization problem for the aggregate performance of all virtual networks. We describe Coloured Petri Nets (CPN) based models and present CPN based schemes for simulation of dynamically adaptive bandwidth allocation mechanisms proposed to support multiple traffics in a substrate network. The simulation study focuses on two traffic types: delay sensitive and throughput sensitive. Obtained simulation results demonstrate the achievement of dynamically adaptive bandwidth management strategies.