Hello again SaveBigBlue
I decided that, rather than wait for your submission to the Greene Foundation, I would do some research on your cover (I am not a specialist in Nova Scotia postal history). Here are my findings:
1. PORT WILLIAMS (Kings County) post office opened in 1858 (from Campbell -
Canada Post Offices 1755/1895)
2. PORT WILLIAMS is about 5.2 km from WOLFVILLE (Google maps)
3. No 2-cent stamps, die proofs, plate proofs or specimens were printed in green (Robson Lowe, Jarrett, Unitrade Canada Specialized)
4. The questioned stamp can only be the 2-cent as the 10-cent has a different image of Queen Victoria. (observation only - no references)
5. I have attempted to research the postal rates in place in 1861 (the date of the cancellation) and cannot find any 1-cent letter rates prior to Confederation. If, however, there was no 1-cent rate, they would not likely have printed a 1-cent stamp.
6. The cover should not have qualified for a drop letter rate as it was being delivered from a different post office than the one at which it was received.
7. The real kicker came when I checked the printing dates --- it seems that the "Cents Issues" have an issue date of 1860 - 1863 in the catalogues. The records indicate, however, that the 2-cent was not issued until 1863! Following is a scan of the table of quantities issued as printed on page 391 of THE ENCYCLOPEDIA OF BRITISH EMPIRE POSTAGE STAMPS 1639-1952 published by Robson Lowe Ltd. in 1973.

The cover has been cancelled 2 years prior to the issue of the stamp!
Most bisected stamps that I have seen are cut diagonally from corner to corner. Your stamp is cut slightly low and to the left which is approximately the position of the SPECIMEN overprint (if that is what the stamp was) position.
On the basis of this research and observations, I continue to stand by my original opinion that the cover is a fake.
I rest my case and look forward to any evidence that refutes my argument.
GJP