[drc]

It is a variation. The only question is it's collecting significance and $$ value.

Collectors sometimes pay a premium for variations that I would consider minor or even detracting defects-- ala the 1965 Topps Joe Namath 'butterfly' mark on hand. The orange background T206 Ty Cobbs are probably just printing defects, and some may value those higher than the reds. The ghost overprints are printing errors, though those aren't considered variations in the Nodgrass sense.

In short, collector sentiment is as important a factor as anything as far as the $$ goes.