The only reason I, or anyone I know of cold blues damascus is to bring out the contrast between the different steels.
Like that billet I sent your way. The 1084 will always etch dark and the 15N20 will stay flashy. In order to get the 1084 even darker, almost black...cold blue works great.
I really like Birchwood Casey's cold blue for this. You etch down to the depth you want, then neutralize that acid. I then clean up with 2000x paper (very lightly) and clean thoroughly. After that I use a Q-tip to apply the cold-blue. It will immediately turn the damascus a very dark blue/green. Let it sit for 30 seconds or so, and then rinse in cold water. Then lightly sand over it with 2000x and LOTS of water. It will bring the highs back to a nice shine, while leaving the recesses very dark.
If you're thinking of blued damascus (where it's at least 2 shades of blue) then it's 99% likely it was hot-blued....which is altogether different.
The billet I sent you really wasn't a shining example of it, because I only etched that billet enough so that the pattern would show and then cold-blued it. If you really want to see how it looks, the steel has to be etched to it's final depth first.
Nick