Well, this isn't really a reply to your question, but I have a small collection of knives that my grandfather gave me quite a few years ago, including a number of Western's and such. I had these stored in my closet and having recently picked up the knife collecting hobby, I have been re-examining these. Some have a bit of rust, but mostly I find black stains on the blades (oxidation?). I have worked at removing this, using Flitz, Nevr-Dull, Miracle Cloth and a Super Eraser Block... none seems to be able to remove it all. I do tend to find some pitting underneath the 'oxidation', but nothing as bad as your knife shows. I've never personally heard of evapo-rust, so I can't comment on that.
I am FAR from the person with the knowledge to say if there is a cure for your knife, but since it appears to me to actual pitting in the blade, I can't imagine there would be a cure for it other than grinding the whole blade down below the pitting, which I would think would weaken the knife too much, but if there is a cure for this, I'd love to hear it too!