Just stumbled upon this video...
https://www.youtube.com/watch?v=LbZyNNz ... =McRocklin
So, apparently Flo (pre-refin) was loaned to Thomas. Apparently, being a self proclaimed lunatic at that time, he cut out the top of the monkey grip out of the guitar (there is a photo in the video of him jamming with Satch and Steve with Flo and the top of the monkey grip is missing). Thomas speaks about that particular Jem being Steve's favourite guitar (all checks out with Flo, the floral pattern too). The picture is from 1992 or 1993, I'd assume, since Satch is using Chrome Boy as his main guitar (he was using Black Dog up to 1991).
So, I'd say it's entirely possible that one of the reasons behind Flo's refinishing was Thomas cutting out the monkey grip. I'd assume it was repaired by Mace Bailey (while converting the neck joint to AANJ) in late 1993 or so and then refinished white to hide the monkey grip repair and promote the new 7VWH's.
Edit: It was 1992 when Thomas did this. Here is a bootleg Video of Bad 4 Good concert. Thomas is playing Flo without the top of the monkey grip at the beginning of the concert.
https://www.youtube.com/watch?v=phyCodn ... lmilitia11