I think this is Tremella mesenterica, based on a scan through Roger Phillips but I'd welcome some expert input.
Caution: Do NOT use iSpot to identify fungi to eat!
Some fungi are very poisonous so a mistaken ID could have serious consequences.
No interactions present.
Did you notice any other fungi growing on same piece of wood? Peniphora Sp. Or hairy stercum? Depending on which is present (not always clearly visible)determins what species of parasitic Tremella you have.
Orange is quite within normal colour variation, they can eventually lose almost all colour.
All given ID's are subject to error/ommissions. Please seek independent verification before acting on ANY advice given. BE SAFE =)
Sorry Mark, I didn't notice anything else on this particular stem. Some of the other cuttings had a white fungi on them but I didn't take any pictures I'm afraid.
Was it a crust? Sorry don't remember any Peniphora species or what colours other than a pink one.
the other possible species is Tremella aurantia which usually parisitizes Pheniphora. T.mesenterica is parasitic on Hairy stercum.
just to cast doubt over almost all posting for these species :-D
Including my own :(
I think it might have been a crust but I really can't be sure now.
Many thanks for the additional info though.
According to the British Checklist http://www.basidiochecklist.info/DisplayResults.asp?intGBNum=13312 you have these the wrong way round. mesenterica with Peniophora and aurantia on Stereum.
OPPS! Sorry you are correct T.folicea is in listing below and must of read that one in error. I will edit to correct THANKS Mal.
Lat/Lng: 50.58189, -3.64242
OS grid ref: SX838770