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It appears to have a proper barrel, that V on the lug looks to be half of the W they were marked with. Here's one of mine for reference. This one is also void of any inspectors proof marks, which could make it one of the the 600 of the 17,500 pistol that were private purchase.
Here are a few photos of two .455 Eley barrels for WWI British Contract Colt Government Model pistols. You can see the notch cut into the barrel hood to seat the .455 Eley automatic round and also the crossed pennants British military mark on the link. Third photo shows barrel hood marked Cal .455 Auto; British Broad Arrow Property Mark S L (?Self Loading) .900 (inch brass length); (pressure) 9 tons/square inch Also shown is a Royal Navy 7-round packet of .455 auto cartridges dated 30 January 1919 and several rounds of this ammo with 1917 and 1918 head stamps. It does look like your barrel has the "W" often stamped (sometimes very weakly) on the British contract .455 Webley barrels; my barrel on the right has a similar "W" stamped on the bottom of the barrel below the links.
For what its worth, there was a British .455 for sale this spring for around 1000, little finish remaining, incorrect barrel/no mag. Wood was ok on it.
The one I have is correct including barrel and mag with matching serial number, although it was refinished while overseas. I paid 1200 for it a couple years ago.
The little research I've done on them shows that values vary greatly as its hard to find these pistols in decent unmolested condition. Its difficult to say "Its worth X amount" without an inspection, just like any other collectible pistol. Just my opinion, I'm no expert on them.
They are an interesting piece of Colt's history though. If you find everything to make it more or less correct, .45 Colt brass can be modified for use in it.