Sir Wolf,
I think I would have to go with a good grade of wood stain applied as you desire. i.e.,
if you wanted a lighter shade here or there, apply, let it sit, then wipe off. You could do this
with different shades between the grip and guards and would be a striking contrast.(or vice versa)
After that, a good polishing of wax and you'll be ready to go. Another plus is that your hands will
patina and wear the wax,(and future waxings) and will show the wear there. A beautiful job!
Experiment on some wood about the same shade as your hilt and it will give you some idea of what you're looking for. Vivat!