I've pulled this stamp from a recent auction lot of Whole World stamps and wonder if anyone can help.

Looking in the Gibbons Concise catalog, the only match I can find is SG71, from 1867. In fact, it's the only 96 cent stamp listed for Straits Settlements.
My problem is that it's listed as a 'grey' colour, and in reality it appears to me to have a reddish tinge (though I am slightly colour-blind which doesn't help!) It has been overstamped, 'B & CO' which I assume is a company security overstamp, similar in use to perfins.
So, a couple of questions:
1. Is this really an SG71 Grey, or do I have a weird colour anomaly?
2. Catalog value, used is shown as £50. Obviously this is only a catalog value, but would that be adjusted, positively or negatively by the security overprint? Not selling, just curious.
3. Any ideas what 'B & CO' could relate to?
Many thanks for helping a newbie.