Yes I know it can get much worse but since this red plating is moderate I wasn’t sure.
Do I have to change only this tube or the pair ?
Thanks
A defective KT120 is one possibility , The other being that there is nothing wrong with the valve per se , and that there may be a slight problem with the bias circuit for that particular tube causing it to draw more current than is specified .
The quick and dirty way of diagnosing the latter , replace the KT120 with a spare and observe , should the spare overdraw and red plate it would be unlikely to be another defective tube and would indicate a slight problem with the bias circuit .
If you don’t have a proven ‘good’ spare KT120 then by merely swapping the recalcitrant tube around with one of the other KT’s would achieve the same end , caviat , don't run the amp for any longer than to prove the experiment , a couple of mins should be long enough.