Someone here, back when it was on Yahoogroups, would fill in laser toner transparencies by just coloring over the whole thing with a black dry erase marker.? Then just wipe it off with the eraser. The marker sticks to the toner, but wipes right off of the Mylar film.
Of course, this won't work with inkjet transparencies as it will soak into the inkjet receptive coating.
http://techref.massmind.org/techref/pcb/etch/photoresists.htm
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Steven Greenfield AE7HD