What acid did you use?
I don't think the sieve can oxidize that fast, it takes oxygen and time to rust iron. Possibly whats going on is that your pull is just dark, and the red that came out was bark?
Even still, i'm sure the spice is fine, no harm done to it even if rust is present. Just decant and filter well, and you will be fine.
The sediment that comes out after cooling is relatively common, i think its tannins or micro sediments from powdered bark. Your best bet imo is to filter once through a tee shirt, pour into a mason, decant in fridge overnight, then carefully pour off through a coffee filter. Make sure to save the gunk for last, so there's almost no water to get clogged up in the filter.
You can then add this gunk back into some acidic water if you wist to get all the alkaloids that could possibly be caught up in the gunk. I usually nuke it in a mason jar, stopping and stirring every 2 mins until it boils. Then simply decant and filter off your last pull. Discard gunk.
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