>>10611225Without pulling out the mass spectrometer to figure out exactly what chemicals is in them these sure don't smell anything but water based, they don't have any odd reactions with water, they don't attack underlying layer the way Tamiya "acrylic" paints can do (to say nothing of actual lacquers), water does just fine for brush cleaning after painting with them, and I've yet to see them with a massive warning sticker added on.
So whatever they're actually based on they certainly don't behave like some kind of lacquer or enamel.