rufinatti
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it's difficult to isolate the text
i used "replace colors" to make the red and the yellow look like the orange
http://planetphotoshop.com/replace-color.html
and then opened the result in ACR because there is a slider for the orange you can play with
As mentioned above, I'm using elements, so I don't have the camera raw plugin. However, I was able to obtain a similar effect by using replace color to change the reds / yellows to white then blend that layer back in with the multiply mode over a masked layer of parchment as the check backing.
No doubt the scratches could be cleaned up a bit with the brush or stamp tool, but I wanted to give your method a quick try.
Thanks for the tip.