Thats about it Kat.
or to simplify it from what I take to be happening.
The Al in effect "opens up" in terms of porousness and "absorbs" some of the dye used in the annodising process thus creating a lighter shade.
As for the anno coating that will stay intact as it is just the oxidation layer of the Al, Odxidation happens in just a few seconds from the layer bieng removed from the surface of the Al. Much like Copper turning green after many years, but quicker and not due to other factors other than Oxygen.
Damage can be caused if you keep on doing the "baking process" to the same part and rapidly cooling it with say ice or water, Aluminium disperses heat very quickly as it is, your stuff should be cool withing a few minutes of it leaving the oven, thats why foil is Aluminum, not something like Steel or Iron that takes muck longer to cool after prolonged exposure to heat (like pans) but they do handle temperature changes much better.