As far as I can tell there are 4 types of material used for the inlays
1. Abalone, for the large leaves with jagged edges and some large dots; I see 10 of them
2. Mother Of Pearl? Maybe another abalone; for the 3 or 4 blueish dots
3. V.shiny mirror type-thing; for 8 small dots and about 4 large leaves
4. Fuzzy silver plastic type-thing; all shaped like the tilde "~" some reversed, about 12
Hang on; looking even closer
about 6 of the last #4's look more like a plain MOP; they reflect differently to the plain plastic things and are a touch smaller!
Oh and there's the vine itself which I think is something else again.
Wish I had a digital camera... but you can see some of these on the JCRG5 in the galleray at http://www.ibanezregister.com
I'd say #1 looks like "natural paua" in the last group of pics at http://www.inlayusa.com/abalone/colorchart.htm
. #2 could be "blue paua"? #3 is also pretty cool 'cos its seems to be embedded 2 to 3 mm below the surface and so has a major 3d thing going on! #4 is what I think Anil is highlighting, and I agree its a shame they are there, but the small MOPs don't distinguish themselves enough.
Is this how it looks to you too Anil?