It's a chunky pencil with a clear, tight-fitting cap.
News Flash is an amazing dark red with purple sparkly microglitter in it. If you have a look at the lip swatch on the Milani web site, it looks completely different. If you want to see what some of the other colours looks like, I'd recommend a Google image search rather than relying on the Milani web site. One of the best places I've seen for swatches is a YouTube video by Vintage or Tacky: http://www.youtube.com/watch?v=jgACmmsC2Mc. Cora goes into great detail about the pencils (I believe she has all of them), with the swatches right at the end of the video.
Left: outside. Right: inside (and yes, I forgot to white balance the camera. D'oh!). I think you can see some of the purple sparkle if you click to enlarge the pics.
The Lip Flash applies really easily. Because it's in a pencil form, this makes it easy to apply in a straight line along the edge of your lips. I'm really lazy about lipliner, so all the pictures here are with nothing underneath. Of course, I still cleaned up a little, since the pencil itself is quite fat. Once I'd done the outline, the pencil simply took about two strokes to fill in my lips. It glides on really well and definitely provides full coverage. I wouldn't really describe it as a gloss pencil, as it's not as glossy on sheer as a gloss. I'd say it's a smooth, creamy lipstick pencil. It's got the coverage and colour payoff of a lipstick, and applies more like a lippie, too.
You can see what colour the product is from the way the outside is painted. Clever!
What I really like about the pencil is that the outside shows exactly what the product looks like. I'm not sure you can see that much detail in my photos, but the outside shows a dark red with flecks of glitter in it, just like the actual product. If you had a couple, it would make it really easy to differentiate between them when they're in a makeup bag or something. The cap also fits nice and tight on the end of it, which is something I always worry about. I have a couple of eyeliners with loose lids, so I end up getting squished blobs of liner all over the other bits and pieces in my makeup bag, plus it means I have to sharpen them every time I want to use them. Annoying!
Left: in direct sunlight. Right: outside in the shade (you can definitely see the purple sparkle in the bigger version of this pic).
I'm very impressed with this lip pencil. I like how quick it is to apply, although I imagine it would be quicker and easier with a paler colour, as I wouldn't be worrying about creating such a sharp edge along my lip line. I'd definitely consider another one or two, especially considering how reasonably they're priced. My only concern is when it comes time to sharpen it. I wonder how much product will be wasted and also whether it will be easy to sharpen, since the product itself is quite soft.
Have you guys tried any Lip Flash pencils? Did you like them?