Well when you clean that crap off it's actually BLACK (or at least grey'ish black) on the paper towel. It looks white here because it is on the black background of the cube. In other words, it's white and black, probably from dust and plastic shards respectively, but on a black background only the dust (from the air) is seen.
It actually does SPIN amazingly well now. It has less resistance than my stickerless guhong! Problem is, it only turns when it is lined up perfectly. Absolutely NO reverse corner cutting, which means lots of lockups. Still this cube could have set a world record in the right hands in its proper time-period (1982 about)