Fun, no?
About this image
I did this to the stalhrim dagger for funsies. Came out looking a lot better than I imagined! You can't really tell in this screenshot because I had Night Eye on during the shot, but it's pretty blood-red in hand.
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http://www.nexusmods.com/skyrim/mods/61576/?
I think I will do just that and upload it as a standalone dagger if I can figure out the texture pathing in NifSkope
Hmm, a grey/darker wrap on the grip and this would be a pretty nice blade for a Necromancer.