I have a serger and know the properties of serger thread and I would tell you that serger thread is not the thread to choose for hand quilting. It's not strong enough and it is a "hairy" thread that would cause drag as you pull it through the quilt sandwich.

Looks like there are variegated hand quilting threads available:

Coats and Clarks Star brand (might be cheaper)

Aurifil 28w Egyptian cotton (some of my friends use this brand almost exclusively for machine quilting, so the quality should be good)

Hope this helps!
Teresa

Here is a link that might be useful: Google search for variegated hand quilting thread

Thanks so much for the information and the link.

I really like the glazing on hand thread, and have used unglazed machine thread when doing a quilt by hand, but after about the thousandth stitch, I notice a difference.