Waz, even when I was using the liquid TO on the first few coats, the dye was 'melting' and bleeding. Obviously, the black did the same on the back, but it didn't matter as it is black and really looks like paint rather than stain now.
I believe it's the Angelus Leather Dye not being locked in. I have watched a couple more of Big Dog Guitars videos on Youtube and he says to use the sanding sealer after the dye every time.
In normal lighting in the house, the surface of the top looks red with a slight banding effect underneath. The dye and the TO have blended together and this gets worse after a second coat. It goes to show how deep the TO penetrates with further layers. Last time, I sanded it back and then added more red dye, (probably a mistake) and it looked great as you saw from the photos until the next day when it all started to turn muddy. I am going to try the sanding sealer this time and see what happens. At least a few more more days until that can happen.
Chris