Was it machine thread or embroidery floss? I second the advice on Synthrapol for most colour bleeds if done quickly. If the bleed has set, you may need to get a bit more creative. Can you incorporate the bleeds into some shading with Pigma pens or fabric paint? Hope you can find a solution but don't throw it out. It may not be perfect but it will still fulfill a quilts main function which is to keep someone warm.