One end was close enough to a fire to get lightly toasted. But not hot enough for long enough to either bake it through (gradually) or pot-lid it (from getting too hot too suddenly).
Isn't raw Keokuk white? The middle section looks beige/yellow to me. Maybe the whole point is heated, but it didn't develop the classic color because the proper time/temp mix didn't happen.
There are a lot of potential reasons points don't cook evenly. Anything from being a thick spall on the bottom of the pile in the premanuacturing stage, to post manufacturing treating like being close to a fire after the hunt, later native built a hearth above it, generations of seasonal grass/forest fires, etc.
If most of your daltons from that site are made on raw chert, I'd lean towards accidental heating after the point was made. If most of them are made from treated chert, I'd go with uneven heating but it worked so the indian used it.
Anyway ...after it was made this point probably experienced unintentional thermal alteration. As uniface stated, neither for a long time (short duration) nor overly hot.
The red or pink coloration is most noticible on the thinner portions of the point which will heat through the quickest.
I have seen similar examples from my region and thought perhaps a fast burning grass or prairie fire might be a cause.