Get a rag and rub it up and down several times and you will pull a lot of the bleeding color off. Wipe the red bundle off a few times before twisting up your string...and then if you need to rewax the ends for the flemish, do so. Then when you are done making the string, wipe it again...Rotating the rag OFTEN so you don't drive the color into the other strands, especially if you are doing this on a newly finished string. After you have done it a few times, if you want to you can unbrace the bow and rewax the string loose to get the wax to penetrate between the strands. When you are done, you may still get some bleeding, but it won't be near as much.