I love this product. I picked it up on a whim because I love tinted lip balms, and this did not disappoint.
First off I should add I bought this in the rose bud shade, which is a really pretty sheer pink that seems to be a good neutral, maybe a mauve-leaning pink. It's sheer but somewhat buildable, where you see a good amount of color but your natural lip still shines through.
The formula isn't quite as waxy as original Chapstick balms, but when you apply this you can still feel it. It feels moisturizing and wears a good amount of time. I can detect no strong flavor or scent either (really, no scent at all, and I don't really pick up any flavor). I initially thought $5 was a bit steep for a Chapstick lippie, but you get a lot of product in the tube. It's comparable to what you'd be getting in a Maybelline BabyLips tube, but this formula is a bit thicker and lasts longer (and has more pigment).
The tube for this Chapstick product clicks shut securely, too, which is nice. I'm not finding myself worried that the lid will slip off with ease and make a mess out of purse or pants pockets. I definitely plan to pick up the Merlot shade.
Update: I did pick up the Merlot shade. It's a very pretty sheer burgundy shade that's also buildable. I have Clinique's Black Honey and it's very close to that. It's actually practically indistinguishable, but the Black Honey is maybe a hair more pink or red (just the tiniest bit and it's only really noticeable if you really look at it closely) and a bit thinner formula and a pinch shinier. It's also very close to Urban Decay's Vice lipstick in Liquid, except Liquid is more pigmented and buildable.