Try to do the FTIR analysis of the sample before prolonged heating, after prolonged heating and after color change. The peak analysis would give an idea of any formation of new bonding, which may the reason behind the change in color.
Under prolonged high temperature exposure, hydrocarbon materials such as paraffin undergo a chemical structure change by dehydration and the carbon content steadily rises. In solid hydrocarbons such as cellulose, charring is evident and the end product is charcoal. With liquid hydrocarbons such as paraffin the equivalent change is your observed discolouration.