What CP are you using? If you gave a good first coat, the additional coats will only sit on top of the first one. WHen the epoxy is applied, depending on teh color thread and type of CP used, you might see small Crystals, or a milky white haze under the epoxy.
However, this is nearly impossible to notice, 99% of the people who see the rod will not notice. Teh second coat of CP is an insurance booster, I used to do it all the time myself, but if you do it right only 1 coat of CP is needed.
What CP will not prevent, is bleed through due imporpoer packing - threads not packed together tight enough, when the epoxy is applied, it acts as a magnifying glass, and you might have areas that seem like bleed through. You shouldn't have this problem with the wrap you did there, it looks tight.
Threads swelling when CP is applied, is caused by improper tension. Figure out how to lay the threads down under tension, and you'll NEVER have this problem again. THere are a few ways improper tension can happen - obviously you don't have enough. But if the wrap has a lot of crossover points, and you wrap a few threads tightly over looser threads, there is a chance you'll see the swelling of the looser threads when CP is applied.
I don't think you'll have any of these issues with this, I just put it out there for you for future reference.
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