I think the only difference between the original Caswells and the new stuff is the red dye, but this is not some kind of "new and improved" scam. They put the dye in to make it easier to see the coating in the tank during the coating process. Otherwise it's the same as the old stuff, which is fine because the old stuff is very good.
The critical thing is tank preparation. No offense, but I suspect the people knocking it here didn't do it right. (And the instructions aren't clear in many areas, so it's not necessarily your fault). I wrote an article in Norton News #156 (Rally Issue, 2009) on how I coated my Interstate tank in 2008. The main thing is that YOU ABSOLUTELY MUST dry the tank thoroughly after both the detergent/water rinse and the acetone rinse. I used air from a reversed (and clean!) shop vac. This comes out slightly warm, which is ideal. On my tank, I also built a home-made oven to cure the tank at 140 degrees [Caswells' recommended temperature] for about 12 hours. ("Home-made oven" sounds fancy, but it wasn't -- it was a big cardboard box with a hair-dryer taped on one end with duct tape and a meat thermometer stuck in the other).
I did my tank in 2008, and it's still fine, so I still recommend this article despite its age. Also, be aware ahead of time that you can't drain a Norton tank through the filler neck the way the Caswells instructions say, because the Norton filler neck sticks down into the tank. The only way to drain the epoxy is through the petcock holes. This is a pain, but you should drain it as much as you can because otherwise you're using up tank capacity.