Well, it is a light leak. I think it is more likely a separation of the rear of bellows from the body, rather than a pinhole, but a flashlight in a dark room should clarify. The problem is that an Isolette II, fully repaired, is not worth the cost of a new bellows. Isolettes were sold in the US as Ansco Special models. A junker body may donate a working bellows, as I repaired my Ansco Special 4.5 version. They are quite easy to work on, so if it is just a body separation, you can just glue it back together.