Water Based Oil Paint

Are you talking about the W&N water soluable oils? I use them all the time and I love them. They're not really watercolors, as they do use linseed oil as a carrier, but it's a modified oil that will thin down and clean up with water. I paint with enamels, so they make a perfect wash, as it's the exact color and consistancy of oils, but it won't eat my finish off. They also take a bit to dry if applied straight, so you can do some blending if you need to. They work nicely for dry brushing as well. If I painted in acrylics, I'd probably be using regular oils, but as is, these work perfectly for me.