My Phoenix marquee is acceptable to me, but I had a thought about something that "may" look ok. When I looked at the game prior to purchase the marquee light was dead, so I didn't know the extend of damage, so I was considering the following, which may look ok.
Touch up any black (you should probably black out all the black, not just missing black)
Then, get some theater lighting gels (green for sure, maybe blue also)
Cut them to shape for the logo and back ground
Might look OK, might look terrible, but I never tried it because when I finally got the marquee off of mine, it was pretty decent. Guess the light being dead for years helped.