As a very pale yellow, Oscar, I understand it can have a slight effect to darken blues like a yellow filter only with less effect. For B&W use, I wouldn't mind that at all!
It's been discussed a few times on the 'net, and apparently reliable info from several sources indicates exposure to UV light eliminates the yellow tint. Even placing it in a sunny window pointing toward the light for a couple weeks is said to do the trick.
Sad end, yes, and that particular one, labeled "Super-Multi-Coated" is the latest and last of the M42 50/1.4 models, with the additional levers and such for open-aperture metering on the Spotmatic-F and ES and ESII cameras.