There is no residue on the buckle, but I wouldn't expect it to stick to it as it's pretty slick. I agree that it looks as if the finish lifted off the leather.
It was fully dry, I finished the belt several days ago and just wore it for the first time today. Perhaps drying time between coats is my issue. I resisted it one time with supershene, waited an hour or so for it to dry then applied the highlight stain. Came back the next evening and finished it with 1 coat of Resolene.
Sitting here looking at it I have to wonder if the supersheen is preventing any penetration of the dye into the leather so that the dye just stays on top of the supersheen coating allowing flakeage. I guess that's what it's supposed to do though. lol I'm pretty new at this so I'm sure it's something I'm doing or not doing that's causing this to happen.
Thanks for the thoughts, keep em coming.