Another temp issue

[mexico_16v]

After driving my car done the motorway this evening, i noticed it was red hot and pulled over, opened the cap a little to let out the steam and just have a bloody good nose, anyway.. The fans works, there is no mayo/petrol fumes from the coolant tank

 

However the water is really shitty looking, kinda rusty etc, etc..

 

Also is the waterpump on my car driven by the timingchain or the aux belt ? I should really know this but, i don't.