Cause by heat scoring, and beneath the traces of green oxidation is heat blackenng. That leg specifically has been over heated over time, causing the discoloration reaction. If it was natural oxidation (like the statue of liberty, for example), then all the wires would be the same color.
Copper wire for a long time has been manufactured in such a way that it is resistant to ambient oxidation. When excessive heat is induced in the wire, that natural protection is broken down and then it is subject to turning green, but generally only where heat has damaged the wire.
Here is a basic idea of how cables are made to not oxidize when they're just sitt ng there in normal operation.