Hex Blender (with demo)

This is a small side project I've been working on. This applies the same formula that's used for Photoshop's blend modes (currently only "Overlay") to a specified hex color based on either a black or white value.

Live demo can be found here - http://samdailey.com/hexBlender/

I'll be adding additional blend modes in the future and will also have a version that allows the blend color to be any selected color, not just black or white.