I use spike its chart the one marked as a dye, as I felt it was the sharpest looking version, I use it as a transparent bait, so I use two drops and oz with gold holo glitter, it pops!
I don't try to keep finish off the hook hangers. In fact, on the wood baits I paint I make sure they are covered to insure against a water leak in those areas. It's very easy to clear the hangers with a micro drill bit chucked in a Dremel tool after the clearcoat has cured. You can alternatively use a piece of stainless wire in place of the drill bit. Takes only a minute.