Youd need to inspect the CC to determine whether its moisture etc that has caused the lack of finish... old CC that has been lying around and then used also goes like this.
The GUNS N ROSES letters are inserts... these and the surrounding red get a bit of wear due to the kick outs above. Someone has attempted to restore around the letters with a base yellow colour. This area of GNR is quite tricky as the yellow has a red fade through from top and from bottom... its very hard to replicate well ( but is possible... air brush skills!)... this red fade through is missing on the " restored" areas.. thats why the letters look the way they do