You can use activate effects to do so, just have Texture1 and Texture2 reset.
Could also make 2 separate ones for Clothing/Accessory.Code://player.useitem.cs case ActivateEffects.RemoveDye: { Texture1 = 0; Texture2 = 0; } break;
Remember to add the name of your effect added to the ActivateEffects enum in Descriptors.cs as well. Just reply if you don't know how to apply this effect to the item (via its XML) and I'll tell you.