You can make a great glo bug by simply snelling a hook, then pulling the knowt forward. Take the yarn, pull it tight, pinch it between your fingers, then trim tight to your fingers. You can use multiple colors, and change sizes in a flash. Why waste your time at a vice?

If you want to change colors, slide the knot back, put in the new color(s), and repeat the process. It's the only way to fly.