Thanks everyone for your good wishes and crossed bits on this one. While PC didn't recover 100% from my mad washing , I did get most of the bleeding out. Only someone who is looking very closely for booboos will ever see the very slight stains. I imagine that it is not visible in the photo at all. I also was able to stitch on about 3/4 of the beads last night. the real kicker is that the original stain didn't come out either, although it did fade quite a bit. I think it can be covered by a carefully cut matte.
I am off to sew on the rest of the beads now. I will post this one again when it is matted and framed.