Ok, you've concluded cause but the question read "What has happened? "
Remember, these are questions you'd possibly see on the cls exam and such wording can catch ya if not complete. The answer given so far, 50% of the score.
The given answer is..Probable contamination with coolant has accelerated oxidation of the oil
I have seen this in one. In her case, she was not experiencing any overheat condition as she had a coolant sensor and gave her warning she was low on coolant. She was refilling up to 1/2 gal of coolant a week and had no idea what it was doing. Upon inspection, her engine was pure sludge. So it is not always due to over heat that can cause the oil to oxidize when glycol is present.