Why does color burn not work on a layer style?

I have a layer with a blending option set to Color Burn and opacity under 91%. It's called Layer 7 is my screenshots.

If I download a jpeg of a solid color of red, and put it behind this layer, the Layer 7's texture is superimposed over it:

However, when I use a layer that has a color overlay applied, the texture from Layer 7 doesn't show through at all:

Why is this and how do I get Layer 7's texture appearing over my color overlay?