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I've use WhiteOut for many years for placing a "dot" of color on the tops of black foam popping bugs. The material held up very well and usually lasted the life of the bug.
A dot of white or chartreuse really makes it easy to see your bug when it's resting on the water, back in the shadows of a big cypress!
For the last few years, I've utilized a paint pen for this task. Again, the results have been very good...
Besides everyone needs a few paint pens around to "mark up your stuff"... or so my wife continually tells me...