Instead of using a water slide decal, Barry uses white photo paper and prints the lettering over a dark background. His technique is shown in the forum here:
I used a laser printer to print on special HP laser brochure stock. The background color was matched as closely as I could by changing the RGB color code. The decal was glued on with the purple 3M glue stick he uses. Instead of using Armor-All, I used clear acrylic spray to protect the pedal.