The blue wood is maple, with dye added to the stabilizing resin. The adjacent wood is black cherry with significant red rot.
The purpose of the first coat of epoxy is to fill the holes that remain after the stabilizing resin did its best to restore physical integrity to the red rot.
Keep in mind the stick is entirely made of decorative rings glued tight to a hickory and maple core. The stick will strong enough to club a bad guy if needed. But it’ll look much better doing what pool cues are supposed to do: push pool balls.