I've got some quarters and nickels that have a similar blue hue to their sheen... though I don't think I've seen it on a penny before... I don't think it adds anything to it's value... but we'll wait for the pro's, which I am certainly not :P
Yep, this is a "reprocessed" cent. It was collected, and then replated outside the Mint to make it resaleable to collectors. Reprocessed cents are technically damaged and do not really demand a premium.
Also die scratches on the rim and worn areas on the devices. I'm not saying that your coin has these, just that they are other tell tale signs of re-processed Cents.
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