There isn't much (if any) scrap with the Maple parts. They are glued up very close to the finished size. The rest gets turned to sawdust as the roundover.
The other leftovers get put aside and used for other things. Maybe inlays, maybe tools, maybe wood samples.
The Vermilion changes color over time. The image you show in your post #654 isn't really accurate since the Vermilion is nearly all in shadow. It will get darker over time, turning a rich brick red/brown. But it does take time. I'm sure you don't want me to hold on to your bass until the color has matured Just know that it will get there.
(BTW - where is that image from?)