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Just so we aren't talking apples and oranges, the handle of my UBE can be seen on Howard's FAQ under "Symbols and Carvings". From what you've said, they may be similar, but just to be sure
First, I lightly steel-wooled all the flat surfaces (leaves and vines, leaf veins, etc.) This established the surfaces I wanted to "light up". Then, I used a stiff toothbrush to loosen the buffing compound that had packed in the deeper areas. This will never come out of the crannies and crevices entirely. After I got as much of the "loose" compound off as seemed possible (when dry) I applied the Birchwood Casey Tru-Oil with a Q-Tip, fairly heavily, over the entire handle. This loosened about twice as much buffing compound/dust as I thought possible, and I cleaned it out again with the point of a round toothpick. Be careful in the more delicate areas of leaf points, etc. The oil will soften the wood where there has been a slight chisel over-run, and it is possible you may have a few places where the toothpick can break off a weak corner of a leaf, etc. When the oil sets up, this isn't as much of a problem. On the background (stippled on mine) I did not attempt to polish the wood - just let the oil coats set up and harden, after I had brushed out as much compound as possible. I put on about six coats in this manner, and steel-wooled only the flats after each coat had dried. Steel wooling these small areas is a matter of getting a "handfull" of 0000, extruding just a string of it (enough to fit under the pad of a forefinger, or even the tip of a fingernail).
The end result (so far - the bug may bite again

) is a light gold vein showing intermittantly through the leaves and vines, and a "semi-gloss" background where the stippled pattern is. This is frustrating as h++l, and time consuming, but woodchuckitus knows no bounds. The 1/4" ridge just below the buttcap is even, alternating dark brown and gold stripes, all around the handle and very uniform. When I started, it was just "brown". Based on my results, the Birchwood Casey Tru-Oil is very good for this particular application - the thinner/carrier penetrates the muck from the buffing compound and makes it easier to remove, and sets up well on the small, flat areas. The Tung and Linseed oils I've used in the past are just a little too heavy for these results.
As comparison, I spent nearly as much "hands on" time (drying time not included) on six coats on my carved handle as I did for 30 coats on the regular handles of my Malla or GS. BTW, the "polishing", for the first two-three coats is with a bare finger-tip. I have callouses like a guitar player's on my first two, and my thumb. On later coats, I wrapped one layer of an old T-shirt around the "polishing finger". Once the buffing compound is routed out, this goes fairly quickly, waiting only to be sure the last coat is completely dry before polishing.
If you're fairly old, badly infected, and more than just a little bit goofy, it can be fun
