Given it is open I’d clean it with 99% isopropyl and a cotton bud, especially the area that might be corrosion near the red terminal, and then again with Deoxit Faderlube F5. You are not going to hurt it with either. The pots to worry about are the ones with the brown (phenolic?) construction as alcohol can weaken that.
PS What is it? Looks like a really good quality vintage wire-wound pot!
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You're absolutely right, Tony - these are tone controls on my JBL 4435s. I assume the one that's closed is also safe to clean with isopropyl and Faderlube? Sorry, never cleaned pots before!
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