If ya want it to last follow Bone's advice and get the Lacquer Sticks from Brownells. That is what we use and it is easier control what gets onto the receiver.
You can get into what seems a never ending loop of coloring in the lettering, cleaning off the excess, removing part of the fill in the lettering, re-filling the lettering, wiping off the excess, re filling the lettering----------You get the point.
I find Hoppe's No. 9 does a good job of removing the excess with out disturbing the fill. You want a cotton cloth with hard finish, like a piece of old bed sheet, wrapped very tightly around your finger with a small amount of Hoppes on it. Work very gently. When you have most of the excess off and the lettering still looks good. Stop and let it dry for a hour or two and then go back and clean off the rest of the haze. If there is till some haze. Hit the cloth with some G96 or other quality gun oil and get the rest of it.
Denny