MS, I agree with Joel 100%. What you are showing is an oil that may have over extended it's ability to go a certain amount of miles and due to the oils ability to resist oxidation over a period of time can cause that as well. This is not due to a low flash point. I know schaeffers oils flashpoint isn't the lowest but not the highest either, does that make it a poor canidate for an oil. No, not even close.
There is many oils with much lower flashpoints and if standard oil drain procedures(depending on oil drain intervals) are followed, you wont find what you are showing in your picture. This is why many lube centers just recommend a 3k oil drain as this is the safest limits without over taxing any oil. It is when you start extending oil drains past the 3k that a lower quality oil will start to push its limits.
So point is, Flashpoint is just one instrument to help determine just how high the base oil can go but as discussed earlier, it does not in no way prove that the oil is inferior/superiour to any other oil. Engine oils DO NOT see those kind of temps for any period of time that would cause this burn off if the oil's additive package is doing it's job.
This is not to say that flashpoint issue
is not important, particularly when looking at extending oil drains, but there is some companies that use this in marketing and to an uneducated consumer, would seem to make sense but by marketing an oil with flashpoint being the main issue is NOT the end all to end all of a making of a good oil and should not be the main reason for choosing such.