Babbitt makes some good bullets.
Many years ago my uncle worked at a machine shop, he was the parts man, and would get me some broken babbitt castings from time to time. Chunks of metal coated with oil, in card board boxes to absorb the oil.
As I remember the bullets cast with it did not shrink as much as those with more lead and were a pain to run in my sizer/lubricator. A friend of my dad was a Doctor and he gave me the pure lead cylinders that NUCLEAR medicines came in. I mixed the two to get a more useful alloy.
I would suggest that you check the diameters of some of your bullets, they could well be larger than you thought/want.
I don't remember any 'orange' coloring when casting with any of that babbitt. Must have been a different mix.