Stampcrow, I have a specialized collection of Transportation Coils. These are all engraved stamps, and on some of the precancelled ones the effect looks just like your stamp! Especially when the precancel mat was low on ink the ink of the stamp looks like it was printed on top of the overprint.
Too much oil in the stamp ink is known to have resulted in a lighter (paler) tint, so it seems plausible to me that "oily" ink could repel cancel ink. However, your stamp doesn't appear to be pale.
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