Shade range: The shade range, sadly, seems extremely limited. It's probably only going to work for you if you are very pale, like me. However, if you are very pale, you are in luck! They have a few options on that end of the spectrum.
Formula/coverage: I love love love the formula of this. A lot of concealers I've used tend to sit on top of skin and be tacky. This one is almost like a watercolor--it sinks into skin immediately, dries down, isn't at all tacky, and feels just like skin. I've been using it on my dark circles and acne, and the fact that it dries down so quickly makes it great for covering blemishes. I also love it on dark circles because it is extremely pigmented and doesn't crease. This stuff is so pigmented that I can use just a dot and cover up a horrible zit. While it claims to last 24 hours (who is testing that?!), I can definitely get a whole day's wear out of this without needing to retouch.
Application: It comes with the doe-foot applicator, which is handy for applying to dark circles and dabbing on blemishes. However, I usually try to dab it on my hand and then apply it with my fingers because I don't want to get bacteria in the tube. The one qualm I have about application with this is that you have to blend quickly. It sets very fast, and then it doesn't budge, which is nice, but can be bad if you're like me and get distracted in the middle of blending in your concealer.
Awkward Chic Rating: A. I wish it had a wider shade range, but it is a great concealer with stellar coverage and lasting power for a crazy cheap price. Pale friends, rejoice!
Image via: Maybelline.com.