I also had been thinking that it was West African Padauk (pterocarpus soyauxii), b/c of the really vivid red color w/ black and white veins of the fretboard wood of my 4001C64, but John Hall and some others insisted on RIC not having used anything but Bubinga.
And, as I also found, Bubinga is said to display quite some color variation ranging from the brown known from W*rw*ck Thumb NTff via red to even purple. Also may have veins.
Fading of color as I understand partly is due to exposure to UV radiation. I guess a lacquer containing some sun blocker may then be helpful.
But using bloodwood indeed is a nice idea...