Those are valid concerns IceBlossom, but I love working with hand dyed fabrics. Normally, I like to ice dye a big batch of fabric and use it with a solid/blender to make modern quilts - I've attached a picture of my Homespun Quilt (Modernly Morgan) below.
However, for this quilt I've decided to go with some low water immersion for a more crackle texture and to prevent the dye from splitting as much. As long as I keep good notes about my dye to water ratios, I think I'll end up feeling ok. My biggest concern is those 5 yards of gray! I think I'm going to start with dyeing 3 yards and then add the other 2 later (hence the notes). I'm also attaching a picture of some previous LWI fabrics that I've worked with.