Interesting issue. Forgive me for chiming in as I am not a cue maker. But I know a thing or two about biology...and wood because it is biological.
This is likely a species of genus Fusarium, of which there are many. Some of these species have been weaponized, so make sure you use your respirator when turning. Respect fungi.
I found an interesting example picture that was unidentified. I think it is Fusarium. If you research it you will find some sources that say it is a mold-like bacterium, but it is in fact a fungus as classified by genetics.
Warning, big image:
LINK
Beyond that, the color issue is interesting. With the color still so vibrant my concern is that the fungus is still alive. This could perhaps impact the stability of the piece if it's not a stabilized piece.
Wiping it with vinegar or a bleach might help kill it and could subdue the color as well. Merely exposing it to the atmosphere and UV will probably kill it on the surface.
That's the thing that makes spalted wood beautiful, the fungus. That also weakens the wood and makes it less stable, hence the need to core or stabilize the wood.
In this case you don't like the color of the fungus.
The pigments that produce the colors in living organisms are often associated with cellular respiration (energy production). Kill the organism and the color fades as the biological pigments oxidize. We all inherently know this. The gray color of a corpse. The dull colors of death.
I would suggest with each turn to use a swab on it with vinegar or perhaps a bleach. That will kill the organism and dull the color as you turn, perhaps even eliminate it.
A stain would perhaps accomplish the same thing...with the added affect of changing the color of the wood, which is something you did not intend. I believe most stains are oxidizing agents. It will darken the wood....and darken the fungus.
I will be curious to see the progress of this project.
I certainly hope you don't 86 it. It does have the potential to be a beautiful component of a cue and as well presents a challenge to work with an unexpected natural cosmetic variation in the wood.
I see a lot of what you guys do as overcoming challenges. You work with natural materials that have variables that have to be dealt with.
I would love to see you post what you try and the results.
Just my thoughts on what I thought was a fascinating presentation. I do hope to see some follow up on this one. :smile:
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