Meguiars works well when cleaning and re conditioning leather but can't restore the colour. However Meguiars did cause me to get my leather re-dyed.
It was the Meguiars Gold Class Rich Leather Foam Cleaner / Conditioner. On applying it onto the seat i did notice it was not foaming as usual, rather a thin runny liquid poured out. Being a complete idiot i continued to use it on the rest of the interior. Since my e46 M3 had shark grey seats i made it a habit to clean them often. By now as usual i was very happy, because treating leather is quite a tiresome process, however standing back to have a look at my work i notice streaks on the seats. Again i begin to clean them again with the same Meguiars product, to no avail. I then went on to use other products to remove the streaks this time just lighting them but still hitting a dead end.
The car was just over 3 years old at the time so i was really piss because i had to fork out over 4k to get them re-dyed, along with the door pads.
I don't know where you based, but Colour-Glo did the job and what a job it was. The interior looked the same as the day i had picked it up from the dealership.
Give them a call, i stand corrected but i'm sure they have agents around the country.
http://www.colorglo.co.za/