So I decided I really didn't want to draw attention to the hem of the pants, so I went a different direction. I decided to use a decorative stitch on my machine to cover the faded mark from the previous hem.
I started with a sample on an old piece of muslin. Unless I'm just playing around, I always make a little sample. It is important to test your thread tension, stitch length, etc.
I used a dark navy blue thread. I thought I might need a stabilizer, but these jeans are quite sturdy and elastic. I tried the decorative stitch on the very bottom of the jeans first, which ended up being folded up into the final hem.
Here is a comparison between the jeans before the stitch (L) and after (R).
For the final hem, I folded the raw edge under 1/4", then folded it in again 1/4" and pressed it with a hot iron. Instead of using my sewing machine's blind hem stitch, I just sewed a straight stitch with the wrong side of jeans turned out so I could go along the edge of the turned under seam.
While I was reduxing these jeans, I wanted to fix one more issue. I bought them with this strange button closure on the back, between the back belt loops. I guess you could use it to adjust the waist, but I didn't need it. It just made a wierd lump on my back. So I took it off!