So, what this looks like is gas being emitted from the equator of WR 140, and it is pulsing. The planet may be “coming apart” around its equator and then going back together. The gas is emitted, then it is stopped, then it is emitted.
It is a Wolf-Rayet star, nearing the end of its life, used up most of its hydrogen, now fusing the heavier elements. It shrinks down, heats up, gets energized and expands, blowing off a layer. Cools down, shrinks and repeats.
But, I am wondering why it says that the star is only fusing helium in a cyclical manner, but it is blowing off silicon, carbon, oxygen, etc. from its outer layers. Aren't those elements a step beyond helium fusion? And, wouldn't they be deep in the core of the star?
Each spherical shell is too thin to be seen face on. It is only when looking at the edges that our line of sight passes through enough of the shell to make it visible. This is known as the Limb Effect and is why the Sun looks darker at the edges.
The rings are brighter at bottom left and appears to be top left. It could be space dust but more likely is a velocity assymettry from the star. A wobble in its rotation might synch up its magnetic fields in a periodic sin wave every few rotations, like a pole reversal on Earth.