Red is the original wrap color to go with the red reel seat.
The 8' HDH rod from Phillipson's early era, with the natural caramel colored glass is about my favorite Phillipson for general trout fishing. I have a couple Philipsons of that era in that size range, including my beloved Red Green R80 with the red & green reel seat.
I think you are right on with the long belly weight forward 6. A double taper will load it well too, and with a standard wf 6 I can cast almost the whole line, and it's good for wind too.

The varnish on the cork is definitely not original and that's a shame someone did that. You may be able to get it off with rubbing alcohol and very fine steel wool; this works for devarnishing bamboo.
Because of the porous nature of the cork it might turn into a gooey mess.
Stronger solvents like acetone would probably work, at your risk to your health.

Good fishing,
Vinnie in Juneau