It does darken over time, and the oxidization can penetrate a good mm or more. Just try to remove the same amount of wood on the top and the edge where it rounds over. I wouldn't worry about the peghead veneers, else you might sand through them.
The rate of oxidization is one of the reasons we don't like to slice up much Coco Bolo until we're really ready to use it. If we have an old bookmatch, the top will be darker than an elbow cut, which exposes deeper, less oxidized wood.
If you are adventuring into refinishing yourself, note that we use an acrylic urethane as a sealer, after wiping down with acetone to evacuate the oils from the surface. The bulk of the finish is polyester. Hope this helps!