Removing/recoating over Penofin oil finish for hardwoods

Hi, I am writing about a weathered mahogany deck in a mixed sun and shade location in New Hampshire. I have gotten myself into a bad spot and could use some advice about where to go from here. The deck is about 10 years old, was done with Cabots timber oil which mildewed badly. So I used a strong deck wash to remove that finish down to the bare wood. What a job! After much deliberation, decided to go with Penofin penetrating oil for hardwood on the balusters and rails (and some thing different and lighter for the decking itself.) So began to apply the Penfin and the results are awful. The resulting color is an ugly dark grayish brown with a lot of fuzzy raised wood fibre that has a greenish appearance. The area I have done looks wore than before I started.

Bottom line: I want to try something else. I realize I should sand the wood to eliminate the raised fibre. Will do. But I would like to apply a different finish. So here's my question - Is there any way to get rid of the Penofin? Or can I apply a stain over the Penofin? If so what kind of stain would be best? And is there likely to be a noticeable difference in appearance between the sections completed and uncompleted after staining?

Would greatly appreciate any help/thoughts

Depressed Al