Can you pipe a border around an edible image with buttercream frosting?? I am wondering if it will "bleed" into the image.

yes, you almost have to in order to hide where the image ends.

Can you use a colored border without it bleeding???

I haven't had any problem with anything bleeding INTO the image. However, this week I used an edible image with lots of black and had some bleeding OUT of the image. I think it was because I used a really "wet" buttercream beneath it. It wasn't bad bleeding, but did aggravate me. It was just the black...the magenta bled out of it.