I was under the impression that as the cure had not completed, the OP had successfully removed the mess using toluene. Hence the comment, "
I <3 toluene!" Because it is a seven-day cure, and was caught early, it seemed that toluene plus a cloth was sufficient to remove it. The OP should clarify.
To address your question about merely painting over the mess as a repair, no, that will not work.
The painted-on caulking must be completely removed, as it over time
hardens,
stiffening the surround and raising Fs. Painting over a stiff mess will further ruin the speaker because the surround will become so rigid, inflexible, and heavy that it cannot possibly function
qua surround. Worst case a glopified and ruined surround can be completely removed and the fabric replaced with cloth surround material, which is available. This changes the speaker, as Ken Kantor, who actual understands these things, has many times explained the issues involved and why it is difficult it is to return a refoamed driver to its original functioning:
I have never made this particular mistake, but I have successfully removed paint and caulk from wood using low molecular weight solvents (toluene, xylene) which I do not like to use for this purpose (neurotoxic, hepatotoxic, nephrotoxic, etc.) because of the quantity required for furniture and trim, and non-toxic paint removers like CitriStrip (methylpyrrolidone which swells the bonds, softening paint) which I have used by the gallon. I have used CitriStrip to remove all manner of polymerized material, but that is from wood and tile, not paper.
This problem of improper surround coating endlessly resurfaces and there's only one way to fix it.
So I'll tell you what needs to happen to save newbies, and I'm going to be completely blunt:
(1) Audio hobbyists need to learn to perform basic research, i.e. spending a few hours reading forums, before running off to mutilate speakers with whatever glop is available from the local hardware store based upon some "helpful" suggestion posted by an ignoramous. Every hobbyist suddenly becomes an expert in surround coating techniques and re-invents the myriad of ways in which to fail.
(2) Audio hobbyists must cease listening to morons endlessly promoting pernicious nonsense, including coating surrounds, or even the cones themselves, with polyvinyl acetate (PVA, Aleene's, white glue, etc.), varnishes (shellac, lacquer, corona varnish, etc.), caulk (silicone, butylene, elastomer, etc,), cement (gasket cement, rubber cement, contact cement), silicone oils, etc.
(3) Postings containing nonsense as in (2) should be annotated by moderators with notes saying, "The proposed technique is known to ruin the surround and destroy the speaker's characteristics, do not follow it.". I'm not in favor of censorship (always best to have the marketplace of ideas), hence the annotation instead of removal, but the nonsense about surrounds is pernicious and destructive, and endlessly recirculates to mislead newbies into ruining vintage speakers which must them be replaced at great expense. I've seen posters suggest absolute garbage and then become utterly belligerent when it is debunked. White-Glue Cult is the worst, of the lot, but Gasket Cement Cult and Caulking Cult are also quite contentious.
Like others (again, nice work GD), I try to post to the threads with the information I've previously posted to debunk the nonsense, but it's hopeless. Too much nonsense recirculates and speculation abounds. It would be a full-time job to keep it in check.