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Okay so my car sputtered out the other day, which got me to looking around at things. Looked at the dizzy cap and there is dust in that particular corner, but none on the internals of the dizzy. Do the contacts look good also?
Now this isn't red dust, I do live on a gravel filled street, but don't get how dust could get in the cap like that.
I suspect if you give the dust some time it will rust to a nice red color, it's only beginning so is yellow and some orange hue going on in there being you caught it right away.
Not sure how dirt/dust enter the distributor without a cap crack or bad seal.
When certain electronics components fail, they can start to throw off dust just that color. Not saying that's definitely what it is, but electronics dust looks like that. If the car isn't running, then it's time for OP to go through the usual gamut of distributor tests.
Car is in a running condition. It just sputtered on the highway lost power but still idled fine I almost think a wire popped off. I just started making sure all connections were tight and it's gone.