Tony
When in doubt listen to the experts. Your cook seems to be on the money with the wool wash done by hand and not in the machine. You can then see what you are up against.
The colours almost certainly will not run, after all the flag was meant to be flown in everything from hot sun to freezing rain including salt spray at sea.
Once you have it clean you can then start investigating specialist stain removal ideas though I fear any ancient rust stains will be there to stay.
Lang
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