Is it BO and LO or is it B0 and L0….that is the question??

I agree with there not being a specific 'O' in the Fender tags, just as there is no 'I' in the tag codes.

Easily confused with a zero or a One.....so my guess is that they dropped the letter 'O' in favour of avoiding confusion.

Also no “Z” stamped on vin or tag. There is an upper case “Z” on 68-down tags. Because it gets confused with a “2”.