I'm going with everyone else here...I got a Mr. Clean Magic Eraser "Extreme power" and it cleaned the ferrule to almost new. Also, I used it on the shaft and got ALMOST all of the blue out. I then followed that up with Butchers wax (search the forum, good thread about it already exists). My cue is almost the same as it was when it was brand new. Makes me very happy. Should make you happy too.
Make sure to NOT get the magic eraser wet. Especially if you're trying to clean up the ferrule, I'd hate to see you get your tip wet and be pissed. Toothpaste is okay, but I prefer to keep any unnecessary moisture AWAY from my cue... I guess I'm paranoid.