The soaking and staining look like many years of good old 3.in1 oil, great for metal but death on wood. The oil soaking will be even heavier in the middle of the wood. Shooting will certianly split the soft wood.
Acetone will only penetrate the near surface oil but won't pull out the center oil which is the heaviest. We use a high temp.,high pressure acid based process. It removes 100% of the oil and black staining. The compressed wood returns to its original dimensions and hardness. It allows for perfect repairs and refinishing with no trace of the oil damage. Solvents and bleach are only a temp. fix, the oil will keep finding its way to the surface.
If you can locate a local antique refinisher, that uses a hot dip tank, they may be able to help you.
You need to lose the oil before atempting any type of refinishing.
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