Interesting tubular issue

[Alexandrumarian]

After a period of hard braking over a steep hill i noticed an unusual thing on the front tire. Looks like the casing (or at least the yellow paint) creeped a bit from the basetape, all around the circumference, on both sides. The yellow paint is now rather easily smeared off. I deflated the tire and the bond between tape and casing seems fine. The manufacturer kindly offered a free tape replacement/ repair but of course wasn't keen on deeming the tire safe or unsafe just from photos. My feeling is the tire is ok (and it did survive the rest of the ride over several fast descents)

Anyone else experienced this?