I discussed the edge kote/color thing with an employee at Tandy Leather and this is what he recommended ( It's pricey, unfortunately but has endless lifetime use/possibilities) He said it can be mixed with a drop of any color dye/ acrylic and will turn the product into a very sturdy edge coating in your needed color: I haven't tried it yet but have no reason to not believe him. Here's a random link I've found just to show you what I am referring to. You can also just touch the white leather dye loss areas with a matching acrylic paint.
http://www.ebay.com/itm/8-5-OZ-Bott...099?pt=LH_DefaultDomain_0&hash=item5d3d9edd83
Thanks for the tip! So many modern bags in so many colors with matching edge coating.....and accessories too. I've filed this under my repair notes for when or if I need it.