You probably won't get the curl or stripe pattern to match seamlessly, so a little bit of paint creating a faux stripe may be in order right before you put your last couple of varnish coats on. I had to replace a whole toe area and toe plate one time (it slid off the bench and busted the very FIRST time I took it out --I was ready to cry) and used some model paint to get the light and dark stripes to blend across the glue line and you now really can't see it. Basically, I just created a couple of small new ones. The light and dark stripes across it also make you not want to look for it either.
The other good thing is that the area you're talking about is generally an area that doesn't get a lot of close inspection by the casual observer. If you were talking about around the lock or the tang areas then you're in a different general ballpark inspection wise.
If you're going the paint route, you're just going to have to play around with it some. But put it UNDER the last coat of varnish, which will not only mute it, (as grain tends to be) but help to keep it from flaking.