When I have done fabric backings and had trouble with the edges fraying out, I just rubbed wood glue into the frayed edges, let it dry, and sanded it down. End of problem.
We've had a number of these fnake skin backed bows show up here in the last month or so. So far, I think they have all looked pretty darn good. I noticed they are were all copperheads, too. Wonder if the other pattern is going to be commercially successful.