Even better with the oil on it. Delayed intelligence: Mike Mahoney sells walnut oil on his site that supposedly hardens, whereas raw walnut oil will stay soft. My daughter, a latter day hippy in Santa Cruz, swears by it for her kitchen table top and a bowl I made her.
I tried dying veneer with both alcohol and water based dye, was unsucessful at getting the color all the way through the wood, no matter how long I left it soak. Please let us know if you succeed!