Tough one. Part of what's making it confusing is the stain from whatever glue was used. I couldn't see exactly what you were saying about the yellow along the edge, so I played with the color/contrast a bit.
Still tough to tell. There's some yellow along the left side where it should be missing, but there's also some remnant of the stain along the right side where it shouldn't be at all. And at the top too.
Something certainly messed with the yellow at the upper left, but it's hard to say if it was missing or if whatever was used to remove it from the scrapbook did it, since the crease is very heavy on that side and a chemical could have soaked in fairly well.
If I was buying it as a P-F card I'd probably go for it. Maybe a bit more than a regular card as a speculative curiosity.
I wouldn't mind seeing a higher res scan of the area, with a bit of the normal area at the edge. But I'm thinking that still wouldn't get me past the 50/50 point.
Steve B