Just done my forks, never done a reverb piston. I presume it’s the same principle though.
I used the best quality (clear) nail varnish i could find. I kept the stanchions horizontal and blobbed some varnish on, then used a piece of electrical insulation tape under tension; dragging it across the area. This wiped off any excess but left the scratch filled with varnish.
The varnish shrinks a bit as the solvent evaporates so i did a second coat and now it’s perfect.
In some ways you might as well try it – worst case is you damage the seals.
J-tech said they could do the same but with a better compound (probably JB weld) for £10, obviously plus postage.
Edit – I like your reasoning for using the red varnish. Obviously not on fork stanchions though!