Nice find Buck, you don't come across M-H sheller's too often, they were available in single and double hole, early ones were wood and later ones steel.
Looks like your No 5 is a single and my No 6 is a double.
Over the years I have seen a few in Canadian M-H collections, most of them in original condition with remains of green paint and yellow lettering, can't say I have noticed any black, but you never know as your stencilling looks to be very original.
Will it clean up and look good with the "oily rag" treatment? then your preserving what is still visible on there.