Hi,
I usually just sit and read, but I have an idea for you.
I use Inlace it comes in many colors or by clear and the colors seperate and mix your own. Bad thing is you have to buy a lot if you are just doing some small items but I love the stuff. I get mine from Turtle feathers (ran by the guy that came up with the stuff), but I see several companies now sell it (Grizzley and Craft USA that I've seen). I made some baseball bat pens and used a grinder to spell out the teams name, mixed some inlace up and drizzled it in the spots. Two things to be very carefull about, 1. leave your blank larger than your finished size so you can turn it down. 2. If you are using a light colored wood, spray some clear lacquer on the blank before grinding out your design. The purpose is that the inlace will dye the wood if not done. The lacquer easily sands off. Also if you do buy it, get some thickener. You want to mix it thick so it wont runout. Wait at least 24 hrs before you trim it down to size. Inlace is basically autobody filler with different colors. As I recall there was an article about how to do this in the woodturners magazine a few months ago. Check fox chapel publishing and see if they still have a back issue. It was well written.
Its not quite the anwser you were looking for, but if you still need colors you may contact Turtle Feathers anyway and ask that guy if his dyes wil work.
Rose