Whereas the layered lacquer is not scrape-able - feels like dried painted wood, although it is in fact a couple mm deep and wood only at the core. That pic with the two flat beads was an attempt to show the different textures - the molded waxy one is on the right.

Whether the "paint" is actual tree-sap lacquer or a substitute is what I cannot tell.

But the waxy stuff seems almost certainly to not be sap lacquer, hence I wondered if it was a variety of sealing wax mixture: pine resin, shellac, and solvent (turpentine), those being traditional components that don't require any petroleum refining.

And I really hope nobody is still using mercury-based vermilion coloring anymore, but that also makes me wonder what the substitute color is - dragon's blood? rust? red lead?

The colorant used in the molded waxy stuff produces a definitely pinkish hue when an acetone swab is applied.
The carved lacquer (?) produces an orangish red that fades surprisingly quickly.
The old 1930s mushy piece produces a vivid vermilion. Mercury-based vermilion can apparently turn darker with age and sunlight, so I'm concerned that the bright red layer beneath the icky exterior is not a good sign on these 1930s beads.