I'm not going to call it advice, but I'll tell you what I would do if I got my hands on a Vibram to dye. I would creatively avoid the middle with any cuts, and depending upon the chosen design enhance the logo somewhat. I might even cut an entirely separate piece of vinyl to mask that part off in addition to the stencil vinyl.
For the designs that go "behind" the logo, the two dyes posted above are examples of good/goodish images to put behind the logo. The Spidey one is symmetric and all the important business happens around the yellow. It even enhances the logo a little, like Spidey Vibram brand underwear. For George, It really just looks like there's this sticker covering part of his face, like the two parts of the disc are competing for space. A great dye no doubt, but I think that for such a permanent part of these putters, the yellow logo really needs to be incorporated into the overall design better.
Heh, you can almost imagine that someone with a Sir Mix-a-Lot size Vibram ring gave ol' George a heinous haymaker. Blamo!
We are not like those other golfers. We throw our clubs and keep our balls where they belong. -Ol' Bob