I was thinking the same thing. Really looks like what happens when a leather pad is left on but of course that stock doesn't have the tell tail straight edge in the discolouration. Something is going on though.
While not typically a fan of the reddish result of alkanet use, when I was having my Lindner Daly restored this past spring, we went with it as it was original to the gun.
Here's are some pics of the stock prior to staining:
Here's a pic during and just after the liberal application of the alkanet oil:
And here is the final result:
It was just one coat of the alkanet oil, applied very liberally and then left to dry for 24 plus hours before he started the slacum oil finish. FWIW, he did mention to me that when possible, he likes the alkanet oil application to dry outside and in sunlight.