Definitely looks like vermilion. As far as it browning with age, that was true of the older instruments but the belief is that more recent Alembics have a different finish that does a better job of preserving the original color. This bass was recently refinished, and that can bring back the much of the original color depending upon what was done.
I agree that the sideways picture of the nut probably most accurately shows the typical color of older vermilion.
In answer to the original question, though, there's nothing wrong other than the mis-identification of the wood by the current owner. The refinish by someone other than Alembic often impacts resale value a little, especially if it doesn't hold up well. Probably won't matter at all on an 84 Spoiler, though.
