I would machine quilt it quite well because hand sewn tops can have weak seams. As for the colour fastness of the fabric, I would machine wash it in cold water with colour catchers but on a short cycle. I would use a backing with green leaves and pink flowers or similar so any colour transfer would not be noticeable. If I had some colour bleeds anyway, I would wash again before drying. Make your friend aware of the possibly of colour bleeds before quilting and washing and she may decide to leave it as a top.