Jewerly Box w/ problem banding

I started this long ago and because of the problem it sat on a shelf in the closet. But I've decided to try and fix the mess. I looking for suggestions. This project is based on plans from Woodsmith Magazine. The central inlay I purchased from Constantine's. The banding around the inlay I cut. I think what happened is that the groove wasn't deep enough and when I sanded the top I went thru in an area where the banding was a bit thinner. So.... 1) should I replace the whole strip or just the section that's bad? 2) should I cut out the banding to be replaced with a chisel or router? 3) I'm worried that I may damage the inlay and then I might as well put it in the fire box.

I'm not sure it matters but the banding is maple and the rest of the top is walnut. The central inlay comes right up to the banding. Under the inlay it's pw. Thanks for reading.