Ok, maybe not so much. There were mixed results for the overdye fabric rescue. The primary fabric I was trying to save out came out nice.
The flowers are still visible, but the background is now a soft grey. The dye camouflages the fade damage (which was the reason for this fabric rescue experiment), but it is still visible in spots. I'm hoping that the camouflage is enough that the damage will not be apparent in the finished blouse. So, I went ahead and cut it out (on the plywood protected table this time - I wasn't up for the more aerobic, crawl around the floor method).
However, the other two pieces finished with less satisfactory results. The T shirt remnant came out light grey, alright, but to my eye it just looks like a really dingy, ready for the ragbag, T. So, more intervention will be required here. Likewise, the synthetic material of the curtain panel absorbed very little dye, so it just came out looking a little worse for the wear. However, I still plan to use both of these items in upcoming projects, so stay tuned!