A sure sign that isn't a brake drum is that it has a keyway, no way will a brake system use a shear for protection.
Blue... this is called a shear pin key way. It is designed to shear off in a bind before the motor severely damaged. This is commonly used on flywheels, pulleys, and other direct drive components.
Red... this is where a pulley could be mounted (like on a clutch fan, water pump, etc.
Green... I don't see how this would drive a flat belt being that the Red is for mounting a pulley.
Yellow... these are cooling fins.
Baby Blue... this is where s dust or oil seal went.