Just an update, I spoke with James Wiles and he offered to look at this coin in person (for the usual fee of course). I shipped it out yesterday, should have it back in a few weeks. I will post whatever he says to close the loop.
To close the loop on this, I just received my 1954 Proof Washington quarter back from James Wiles with pretty cool news. This is a new re-engraved die variety listing for CONECA and designated as 1954 RED-001, stage B, MDS. Pretty stoked to get a new listing!
That is great news!!! A new discovery. This will no doubt create a buzz in the Washington quarter community. Congrats on the new discovery.