Well since it was already damaged I decided to take the rest of the finish off and try to re-do the color in black. Not wanting to get too much more aggressive at this point I used some lemon juice and water and removed more of the finish/coloring. I let it dry and then used some black leather dye. I let that dry and then used some liquid shoe polish to finish it off. I let it dry again and then gave it a bit of a shine. I cleaned out the rivet the best I could and replaced it back on the watch.
I am pretty pleased with the results. I may have to find an original leather strap to have that color option again though. Pics of before and after.
