Application: Amazingly smooth and effortless! You could definitely get by with just one coat. The thicker you put it on, however, the more you can see the brush strokes, especially in the second layer - the first time I tried I definitely used too much. Seche Vite somehow manages to hide some of that (SERIOUSLY, what is in that stuff, pixie dust and unicorn horns??). I'd recommend two thin to medium coats.
Color: A little duller than I expected, but still very pretty. I'm considering trying it out again with a layer of white underneath to make the color pop a bit.
Work Appropriateness: It's dependent on your skin tone, of course, but I'd go with yes - it blends pretty well. And of course if you're worried about the shine factor (it does sparkle quite nicely in the sunlight), you could always matte it down.
Rating: 4.75/5. The color could be a little brighter, but the flawless application more than makes up for it. There was never a question as to whether I was going to keep this one.