Really? CNN photoshopped this image to support the idea of a forged signature did they? The photo is published on the official CNN twitter account. See here
https://twitter.com/CNN/status/930205088299257859
The point is that everything up until the name 'Ray' was a genuine original inscription from 1977 (possibly written by Ray Evans who was a student in her school class).
Now some people are just pathologically dishonest as you know and such people are to be found everywhere. Beverly Nelson's own stepson has publicly described her as such a person. When she heard about all the people looking into possible sexual wrongdoing she had a brainwave. She remembered the inscription in her yearbook and thought 'well the name 'Ray' looks just like 'Roy'. If I can add the name 'Moore' to the end of the inscription along with a date and place I can say this is 'proof' and can be in for some big money.
Nelson would have seen Gloria Allred on he TV during the Presidential election last year. Con artists tend to recognise other con artists and she would have seen exactly what Allred's game was. This opportunity presented itself and Nelson knew that Allred was the person to go to make things happen. So she would have contacted Allred, the two of them would have worked out the script and the performance together as well as working out how Nelson was going to get money off this (either by being paid directly or by some kind of fundraising scam or both).
The ink was meant to look the same colour and from most angles it does. Only when it was held up directly to the light at that particular angle does the CNN camera capture the 40 year old ink reflecting the bright light differently from the recent ink.
I love that a Trump supporter points to CNN for vindication. I don't believe it originated with them, and it has been distorted and then seized upon by conspiracy theorists as evidence of a forged yearbook, the whole image looks too bluish. I watched the live feed of that press conference and saw the yearbook in detail at different angles and saw no such effect.
Let's look at your theory, this "Ray" character apparently has identical handwriting to Roy Moore, looking at samples of Roy Moore's known handwriting, the capital R's, T's and C's are identical:
And look at what Moore's attorney, Phillip Jauregui, said at the press conference: "look at Olde Hickory House which they say Judge Moore wrote, Judge Moore says there's no way in the
world that's his handwriting" - the implication being that the rest of it was in his handwriting!
If this is all a conspiracy to discredit Roy Moore they would've done a better job than this.