That's a good question. It's been my experience that replacing a vane/feather on a wrapped (or dipped for that matter) arrow requires compromising the wrap in some way.

One thing that I have done on some of my wrapped practice arrows is: carefully razorblade the vane off including the wrap material just below the vane.I use a very little offset when I fletch my arrows so this process is a little easier than trying to follow the contour of a hard helical-set vane. I then clean that bare portion of the arrow with a Q-tip just damp with Acetone andthenfletch directly over that spot. You will most likely have to check and recheck placement of the dry clamped vane over this spot before applying any glue. If you're not turning your nocks after fletching your arrows then this will be a bit easier task.