Somewhat similar question for you rod builders....I bought a 'demo' rod years ago that has the flyshop's logo on it and I'd love to get rid of it. It sits right above the cork and I'm wondering how easy it is to get rid of it. Rod is a Sage XP.
Rick - I think I pinged you on this a year ago but never did anything as I'm afraid to screw the rod up.
to answer both questions - a closed wrap would seem your best/easiest option to make the changes you are talking about.
Oneweight - since the logo is close to the cork, you should be able to wrap over & epoxy. That's a fairly straighfoward process. Go for it! A two color wrap is really pretty easy, and it would look great.
Monk - closed wraps would definitely be the easiest unless you are comfortable removing existing epoxy. You can do some great closed-wrap designs - adding feather inlays (above or over) the wraps is not difficult either if you are going for a distinctive look.