no, its most likely a an old roll of reversal(transparency) film stock, older films(other than kodachrome really) fade to magenta, sometimes yellow. generally they dark fade, some light fade however.

you'll need to have it sc@nned and burned to a dvd so you can edit it on the computer in a dig!+@l program. make sure its in an editable format though, not just a standard "plays straight on your dvd player" format.