SilverWook (how did I just notice now that your initials are SW??), there is definitely a lot that can and will be done to restore the colour from your print.

The idea of popping a B&W encode out quickly is that it will let people look at the differences in the original 1971 release vs other releases, and the B&W is easier on the eye than the red.

I won't have time to do a colour recovery on it for a couple of months, but it looks great in B&W, and anyone that wants to play with the colour in the meantime is more than welcome to.