I have both Waterlilies colors and neither one were very variegated.  if I were going to sub them out, what I'd probably do is stitch everything else first and then see if a solid DMC color would work ok in it instead.

Vanessa

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Mira UFOs: White Christmas (color conversion), Rose of Sharon (over 1), Autumn Maiden (from Maidens II), Athena, Poppy (over 1), and 2007 Christmas Tree, Angel of the New Dawn, Ella,Spring Topiary Fairy (left side).