Immediately thoughts will be of colour loss through soaking, or rain, or some other leeching process. The envelope was no different to any other and it's the following 'bits' that caught my eye - apart from the obvious, which is why I first looked at it:
. the overall discolouration, etc is not consistent, looks consistent (the green around 'AUSTRALIA 20c' fades consistently) but in terms of specific areas -
. take the man standing at the engine on the left and how he fades in comparison to the man at the right engine.
. right engine man again, to his left the engine part disappears
(side note, the man has three legs! haha guess it's part of the engine but sure looks like it).
. the 'A' in small 'Australia' appears to have loss (to different extents) under the horizontal, it appears out of line with the rest of 'ustralia'.
Any thoughts ? Obviously, the main thing against it is that it is not a known error/flaw and I can't see how only one stamp could be like it if it was during printing (unless everyone threw them away!)
Normal for comparison -



