No it is not the paint. It is a rubber residue on the clearcoat covering the paint. The rubber on the Flashstand can also be seen to have changed as well, shiny and flattened where there was contact. Don't forget, Topeak have applied a cheap rubber finish to the tool rather than a proper vinyl sleeve.

They used something like this, the cheapest option, and the worst:



And then they try to blame the consumer for using the product!