Shameless plug for my Wolverine online shop gift card sale:)
Haven't done this, but I would say don't do it. CXL is naturally oily as it is soaked in chemicals to make it basically maintenance free. I've got some golden cxl that are so shiny that they look like they're still wet. Let's say you do strip the color, I would think that the dye would run off because of the oils underneath.